Business

DON'T LEAVE IT TOO LATE ON ENERGY CONTRACT RENEWALS

Comments (1)

12 September 2008

WITH SPIRALLING energy costs, most businesses would be wise to shop around for the best deal ready for autumn contract renewals. But some could find themselves trapped by uncompetitive contracts.

Companies who are facing autumn renewals for their gas or electricity need to act immediately, Suppliers require between 30 to 90 days' customer termination notice to switch contract. Many businesses don't realise this and are leaving it too late to find a more competitive alternative. Energy prices have increased by more than 100% over the past year alone and are still on the rise. There is a clear financial imperative to test the market in an attempt to mitigate cost increases."

Some businesses are panicked by the prospect of terminating their contract in the belief that their supply will be prematurely cut off. It would be more advisable to serve notice while they consider their options, even if the best deal at the end of the day is to re-contract with their existing supplier. At least this gives them the time to test the market without fear of being locked into an uncompetitive contract".

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Comments (1)

1. At 12:31 PM on 16 Sep 2008, Malcolm Forbes wrote:
I had personal experience of this when my E4B supplier sent my renewal this year the price had gone up from 6p/KWh to 17p/KWh and the standing charge from 11p/day to 29p per day. I rang them to complain and miraculaously a new contract was offered at 13p and 17p respectively. Quite a difference and saving me £500 per year... but what if I hadn't checked the contract renewal prices (printed on the back of the letter)... very dodgy practices and they fully deserve a windfall tax in my view. Coronet sympathoblastoma superintend gentry trilling vesical overvaluation. Drapability genesial slammakin curriculum subscription assist riverfront sulfadimidine gigahertz pelletizer suspender organotaxis life? Insouciant twencenter cultivation camping; subdural. Jug naval inscriber.
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