Arranging Change of Tenancy (CoT) for your Energy Supply
Moving into or out of a premise is known as a Change of Tenancy in the business energy market.
The existing supplier to the premise is obliged to continue to provide energy to the premise and under no circumstances will this be otherwise the case, however it is an obligation on the new tenant to agree a new contract either with that supplier or with a new supplier of your choice.
It is also an obligation on a business moving into or out of a premise to keep the incumbent supplier of the premise fully informed of their contractual situation.
If your business takes occupation of a site currently supplied by your existing supplier, you need to inform them as quickly as possible that you are the new tenant.
This is critical for two reasons:
- to prevent your business being held liable for charges incurred by the previous tenant
- to ensure you can negotiate a competitive rate (and choose to switch if you desire)
A Change of Tenancy customer has total freedom of movement and is free to accept a contract with a supplier of their choice. This is good news, however many unscrupulous sales businesses prey on new movers and force them into uncompetitive and unsuitable contracts. To find out more visit our Guide to Scams.
It doesn’t have to be this way. By taking control, informing the supplier of your situation and using Business Juice to secure you the right contract for your business you can take advantage of one of the few re-contracting opportunities outside your renewal window.
For your convenience, you can download your Incoming change of tenancy letter for your supplier below.
Your supplier will also require one of four ‘proofs’ of the change of tenancy having occurred, these are:
- Confirmation from the landlord or brewery
- Confirmation from the estate agent handling the move
- Confirmation from the solicitor handling the move
- Copy of the mortgage completion letter (if property bought)
By providing this information together with the Your supplier Incoming Change of Tenancy Letter you can secure your business the opportunity to strike a great energy deal for your needs.
If your business is leaving a premise for which you currently have a supplier contract, you need to inform them as quickly as possible that you are no longer the tenant.
This is critical for two reasons:
- to prevent your business being held liable for charges incurred by the new tenant
- to ensure you can negotiate a competitive rate at your new premise
For your convenience, you can download your Outgoing change of tenancy letter for your supplier below.
Your supplier will also want to know:
- The reason for your moving out
Your supplier may also want to know:
- To where your business is moving (if applicable)
- Who the new occupier of the existing premise will be (if known)
You aren’t obliged to provide this information however always ensure you contact Business Juice as an ‘incoming’ tenant so you can save your business time and hassle and exploit the opportunity to strike a great energy deal for your new premise.
Business Juice Top Tip
Always ensure that you take closing and opening meter readings on the day (or as close as possible) that you move out of old premises and into new premises – to ensure that you only pay for the energy that you use.
Simply click on the relevant supplier for the premise concerned and choose either the Incoming or Outgoing Letter.
The Incoming letter should only be used when your business is moving into the premise concerned and likewise the Outgoing letter should only be used when you are ending your occupation of the premise.