The UK Retail Landscape
The UK retail landscape is in constant flux. The high street evolves to accommodate changing trends, and as a ...Read More
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.
Jack Coyle was very helpful and…
"Jack Coyle was very helpful and efficient. Thank you"This review was posted by Krista Tutin on the 21st of October 2020
the best service agent for switching…
"the best service agent for switching electricity"This review was posted by Ultimate Craft on the 21st of October 2020
Big saving everyone
"Big saving everyone. I recommend this company 100%. A big thank you to Cheryl my business manager she’s amazing."This review was posted by HARMEET SINGH on the 20th of October 2020
"Awesome service. Potentially saved my business over 4k over the next 3years! Brilliant."This review was posted by Kat Banks on the 16th of October 2020
5 star service
"My account manager is Cheryl and she has made switching utilities so much easier. I never feel rushed to making a decision or feel any pressure. She offers great advice and explains everything so I completely understand. I first used Switch My Business a few months ago and because of the service I received, they were the first call for my current renewal. I highly recommend them."This review was posted by Kerri on the 13th of October 2020