Business energy prices keep on changing, so the timing of your business energy switch can make a significant difference to the energy rates you pay. The problem is that the terms of your business energy contract can mean that you cannot just switch business energy suppliers unless your current energy contract expires. But this doesn’t mean that the expiry date of your business energy contract can determine the switch.
Therefore, it makes sense to compare business energy prices right away when the switching window opens. In this way, you can check the available energy deals that are suitable for your business. This page discusses the best time you should consider switching business energy suppliers.
Understanding your switching window
Your switching window refers to the earliest time that you can decide to compare business energy prices and arrange a new business energy deal. In most cases, this can be 90-days before the expiry of your current business energy contract, though timelines can vary. Therefore, you should always check your business energy contract to know when your switching window opens. Remember that if you have a micro business, the rules involving switching energy suppliers are quite different to those of other businesses.
Regardless of the length of your switching window, your business energy supplier needs to give you written confirmation of it and explain the terms and conditions of their deemed contracts and automatic renewal policy. When your energy contract expires, the business energy supplier can automatically roll you into more expensive out-of-contract business energy rates. Hence, you can avoid overpaying your business energy by visiting https://www.utilitybidder.co.uk/ so that you can compare energy suppliers or even switch to a better business energy deal.
Depending on your business energy supplier, there is also a chance that they can roll you onto another fixed-term contract usually with slightly higher energy rates, though this is becoming less common. A business energy supplier can also decide to move you to a 30-day rolling energy contract until you arrange a new one.
You should note that there are several obligations that all business suppliers need to meet. When you get a new business energy contract, your energy supplier needs to contact you at least within 10 days to outline the contract’s terms and conditions. These include when the switching window opens, the terms and conditions of their deemed energy contracts, and their automatic renewal policy.
The truth is that no person wants to read the terms and conditions, but you need to take the time to read and understand them. This is because business energy contracts don’t provide a cooling-off period. Therefore, you cannot change your business energy contract once you have signed it. As you can see, it can pay to ensure that everything is in order.
The best time to switch business energy suppliers
You should remember that you can switch energy suppliers any time you want to, especially when you want to reduce the overheads for your business. That said, when it comes to business electricity and gas, there is a limited period you have to compare business energy deals and make the change. And, if you want to get a new business energy deal, you need to know when your switching window opens.
As explained earlier, a switching window is a specific period during which you have to compare business energy deals so that you can find a new one. The period of this switching window can depend on the business energy supplier you have and the type of business energy deal you are on. In most cases, the switching window can start between one and six months before the expiry of your current business energy deal.
If you are not sure about the expiry of your current business energy contract, your business energy supplier can inform you about it. Any correspondence with your business energy supplier can include the energy renewal offers. But the energy rates the business energy supplier can offer you at this point may not be the most competitive ones, so make sure that you compare energy deals with the other business energy suppliers.
Once your current business energy deal is in the switching window, you can contact any reputable energy broker to help you compare business energy deals and even negotiate the best energy rates for you. You cannot decide to switch energy suppliers at this point, but it’s a good idea to choose a new energy deal and lock in your business energy rates so that you can avoid any energy price hikes. Therefore, your new business energy deal can take effect immediately after your old energy deal expires. In this way, you can avoid your business energy supplier rolling you over onto more expensive out-of-contract energy rates.
It’s worth mentioning that you should not always depend on your business energy supplier to get in touch with you to inform you about the expiry of your business energy contract. This is because some business energy suppliers may fail to do this, preferring instead to roll you into the most expensive out-of-contract energy rates.
You can also choose to switch business energy suppliers when you move into new business premises. While switching to another and better business energy tariff may not be on top of your priorities, especially when relocating your business, it’s something that you need to handle quickly. This is because a business can be put on a contract called a deemed rate when it moves into a new premises. Unfortunately, these energy rates can be quite expensive compared to the contractual energy deals.
The good thing is that you can decide to switch business energy providers at any time if the energy supplier puts you on deemed rates. This means you can make the switch without giving any notice period and doesn’t have termination fees.
Energy prices always change, though they rarely drop. Therefore, you need to sign up to a new business energy deal quickly so that you can lock in your business energy rates to avoid any price increases. This is especially true if your switching window is long because energy prices can rise significantly during a six-month period.