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Out-of-Contract Rates


Out-of-Contract rates

Out-of-Contract rates are applied by business energy suppliers when customers have come to the end of their negotiated contracts. They are usually applied when a business’s gas or electricity contract ends and is automatically renewed by the energy supplier.

Automatically renewing a business gas or electricity contract is a common practice amongst business energy suppliers. Although it may seem convenient that the service is automatically renewed for your business, it comes with a pretty hefty price tag.

Rather than being renewed with similar business energy rates to those which you were paying during your contract, your business will be charged much higher Out-of-Contract rates. These higher rates can be a massive sting to any company, especially small businesses carefully planning their expenditure.

If your business experiences Out-of-Contract rates have you decide to cancel this, you may be even face additional penalties for ending the renewed contract early. In some cases, your supplier may even reject your cancellation request and this will mean your business is stuck paying astronomical prices for gas and electricity.

However, business energy suppliers are not allowed to enforce Out-of-Contract rates without warning you. At least 60 days before the date on which your current business energy contract is due to end, you should be contacted with a statement of the renewal terms and a reminder to renew.

To avoid being hit by staggering Out-of-Contract rates, be sure to shop around for new energy deals for your business as early as possible – we’d recommend that you start comparing business energy tariffs up to six months before your current contract’s end date.

SwitchMyBusiness.com works directly with energy suppliers to offer great deals and we’ll even handle all the paperwork for you! We know that changing energy contracts can be hard work so our service is quick, easy and dedicated to making your switch effortless.

To find cheaper business energy prices today, simply enter your details with our online comparison service or get in touch on 0800 411 8830.

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Excellent, 9.7 / 10

So helpful

"So helpful, especially as I found the contract renewal on my new half hourly meter quite baffling (KVA charges, MOP contracts and other "extras" all had me scratching my head). Arron took great care to explain everything clearly and told me everything I needed to know in order to be able to compare prices from all avenues on a level field. He didn't pester me endlessly for a decision did exactly as I asked in terms of call backs and quotations. Such a refreshing change to deal with someone who listens. Arron has helped me renew my contract next month through switchmybusiness in a very straightforward and painless way on an excellent rate. Fabulous service, thank you Arron."

This review was posted by Louise on the 18th of January 2018

A lovely lady called Bhavni phoned me …

"A lovely lady called Bhavni phoned me very quickly after I went online. She couldn't have been more helpful, explaining all the different rates for me. She managed to save me a huge amount per year - gave me her direct phone number if I needed to phone again - like gold-dust! even gave me a termination letter to send to my supplier. Couldn't have been easier and will definitely use again - and hope I get to speak to Bhavni again. Thanks again"

This review was posted by Julie Dickie on the 17th of January 2018

Excellent service and hassle free

"Excellent service and hassle free, Jessica Purnell handled everything for me and got us a great deal, even giving advice on how to cancel the previous contract. Thank You"

This review was posted by Neville Blenkinsopp on the 17th of January 2018

Brilliant service

"Brilliant service - very quick to the point and explained everything very well! Would recommend to anyone who is looking to change their electricity supplier."

This review was posted by Jess on the 17th of January 2018

Excellent service straight to the point …

"Excellent service straight to the point and the process was painless!"

This review was posted by Nick K on the 16th of January 2018