Your independent energy adviser
0800 051 5770

When Is Your Energy Contract End Date?

Do you know your current contract end date for your gas and electricity supplies for your business? If not, you could run the risk of ‘rollover’, which means your energy supplier automatically renews you into a fixed term contract that you must fulfil.

At present, this is a perfectly legal and standard activity within the energy industry and one that costs UK business thousands of pounds a year due to the rollover rates being higher than those that the customer could actively pursue on the market.

By finding out your contract end date, and terminating your energy contract in accordance with your supplier’s terms and conditions, you are effectively re-gaining control of your business energy and are able to negotiate a contract to suit your business needs at a price and contract length that suits you.

5 of the Big 6 business energy suppliers have announced they will have ended the practice of rollover contracts by the end of 2014, with some having begun to do so for some customers in 2013. But many smaller suppliers still operate rollovers and show no sign of following the Big 6’s lead.

And even those who have acted to remove rollovers have still replaced them with a requirement to terminate your contract or face a premium price hike at contract end, albeit on a variable basis whereby rather than being locked in for 12 months just 30 days as the norm.

Where can I find my contract end date?

Your contract end date should be on any paperwork you received from your supplier when you signed up to the contract originally.

Unfortunately, currently only E.ON place this on your bill, so you can be reminded of it every month.

Soon all suppliers will be obliged to do this, however some are taking longer than others with the end of 2014 being the likely date for universal application of this fairly rudimentary expectation.

But for now, if you don’t have your original documents, there are three options:

  1. Wait for your renewal letter. Your supplier will write to you in advance of your contract end date to advise you of your renewal rates, dependent on your supplier this could be between 30 and 130 days in advance. Visit our dedicated supplier pages to find out your supplier’s policy
  2. Call your supplier and ask, but be prepared to undergo the hard sell as this will be a trigger for gauging your intention come contract end
  3. Contact us at Business Juice and we can find out on your behalf, protecting you from the hard sell whilst also providing you with the full range of options in the market to suit your needs well in advance of your renewal date.

Either way, once you know your contract end date, make sure you terminate your energy contract (even if you may wish to stay with your supplier) and let Business Juice find the best deal to suit your business needs. To find our your supplier’s termination policy visit our dedicated supplier pages so you can act well in advance.

Until the legislation changes for all suppliers, don’t get caught out by rollover.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.