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02 Aug 2018 | Filed under: Energy

Understanding Energy Contracts for Business

The way in which business energy is being transported to your business by suppliers and the way in which you pay is changing. If you are moving into new premises or changing supplier, setting up a new contract should make a big difference to the amount that you pay.

Half hourly readings

Industry rules have changed, which means that now your supplier will take meter readings every half hour. This is part of a process referred to as “settlement”, and when you renew your contract or change supplier you will be moved to this process. You should only see these changes if you are a business customer in the 5-8 profile class with an advanced meter – your supplier will be able to advise you on this.

Micro businesses

For the smallest firms, all bills for fixed term contracts will require an end date and notice period on all bills. These businesses will be able to advise their supplier that they want to switch their business energy in advance of the notice period.
The maximum notice period for contracts started on or after April 30th, 2015 will be reduced to 30 days from 90, and at 60 days suppliers will be required to advise clients what their annual energy consumption is, together with prices for their current deal and new ones.

New contracts

When looking for a new contract ensure that you shop around to find the most appropriate business energy contract for your company. Ensure you read the key aspects of your contract and the Terms and Conditions fully and keep copies of any letters you receive and the statement of renewal terms in case you have any disputes.

If you’re ready to take the next step in exploring the potential for your business? Then contact me and we can talk.

LinkedIn: www.linkedin.com/in/paulstrachan-auditel
Email: paul.strachan@auditel.co.uk
Mobile: +447793 447961

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