Total Gas & Power
Total Gas & Power is a business energy supplier, wholly owned by Total SA. It has been a leading business ...Read More
Businesses are being rolled over and locked into energy contracts without their permission, SwitchMyBusiness.com has found, alongside a catalogue of other issues.
The findings are striking – we found that 18.4% of businesses have been automatically rolled over onto a new contract without their permission and a further 16% don’t know whether they have been a victim of auto-renewal.
The study comes in the wake of the Competition and Markets Authority (CMA) report which found that UK SMEs are unnecessarily losing £500 million a year on energy.
While Ofgem and some energy suppliers have made steps towards making the business energy market fairer, the practice of ‘auto-renewal’ – where businesses are ‘locked in’ to another fixed-term contract without their express permission – continues.
The SwitchMyBusiness.com research also showed that more than 30% of small businesses have been shunted onto a ‘deemed contract’ (30.4%) with the same supplier at the end of a fixed contract, leaving them paying up to 80% more.
A further 16.8% are unsure whether they have been put onto a deemed contract, and the majority of UK SMEs stated they have had problems understanding their energy contract at all (50.4%), a sign the business energy market urgently needs more clarity.
Knowing how to switch supplier is vital if businesses are to avoid getting ripped off or paying more than they need to. But more than a quarter of smaller to medium-sized businesses (25.6%) do not fully understand how to terminate their current business energy contract, meaning as many as 1.3 million businesses are losing out on better energy deals.
“These findings prove that the UK’s SMEs are still getting a raw deal,” says Ivan McKeever, CEO of SwitchMyBusiness.com. “Smaller to medium-sized businesses are in a uniquely challenging position: the business energy market lacks the transparency that consumers now have and smaller businesses do not have the resources to liaise with lots of suppliers and negotiate a good deal.”
The research shows that much more needs to be done to help small businesses with their energy bills. SwitchMyBusiness.com has publicly appealed for the Government to take urgent action:
As we have proven, cheaper business electricity and gas is available for many, many small to medium sized businesses. We are passionate about stopping UK SMEs paying too much and will keep campaigning to make the energy market fairer. In the meantime, we offer practical help – we always contact all of our customers ahead of their renewal date to ensure they have the option to switch to the cheapest energy supplier.
Our process takes only 20 minutes and has received the top rating on independent site Trust Pilot. Fill in our simple form (also at the top right of this page) or give us a call on 0330 0100 251 now to start saving.
thank you nicole for your kind help to…
"thank you nicole for your kind help to set up my business electric account fantastic service and your personal touch thank you"This review was posted by Sam Raju on the 19th of February 2018
Aaron Gallagher recently helped me…
"Aaron Gallagher recently helped me switch the gas and electricity supply for our business. He was extremely helpful and well informed which was great for me as I know nothing in this area! He saved us a small fortune and dealt with all of the switch for us which again was extremely helpful as it wasn't completely straightforward. Thanks again for you help Aaron, it was so appreciated."This review was posted by Rachel on the 17th of February 2018
A better deal for our Village Hall
"I recently used this company to get a better energy deal for our local village hall. Other companies were quite pushy but Lorraine and Bhavni from SwitchMyBusiness were much more professional. They sent me useful information by email enabling me and the village hall committee to make a decision about which supplier to use. The switch was done by phone and when the energy provider sent the paper work to the wrong address Bhavni sorted it out straight away. I saved over £1000 for the charity."This review was posted by Irene Winter on the 16th of February 2018
"Lorraine was great and very helpful. We negotiated and received a good deal on our supply."This review was posted by Edwina Nash on the 16th of February 2018
The SME Personal Switcher
"The SME Personal Switcher, Lorraine Carey was really helpful."This review was posted by Cross Fabrications on the 16th of February 2018