Rollover Business Energy Contract Guide
Understanding your business energy contact can be a lot of work, with so many hoops to jump through and so much jargon to understand it isn’t surprising that many business owners feel overwhelmed. Use this guide to better understand rollover energy contracts, what you should do if you’re going to be placed on and what the best next steps are.
Business energy contract due to renew? Fill in our business quote form to see how much you could save…
What is a rollover business energy contract?
When you reach the end of your business energy contract you could be automatically placed on a rollover contract, which means that your existing supplier will carry on supplying your energy but at a different rate. This new deal is likely to be extended for a fixed period, usually a year. Due to new Ofgem legislation, this is only applicable to businesses that aren’t classed as microbusinesses.
Ofgem’s new legislation means that businesses that are classed as micro businesses no longer have to provide termination or 30-day notice to their supplier as long as they have no outstanding balance. We can check if you’re classed as a micro business with your supplier before terminating your contract as your supplier may have you down as a non-micro business rather than a micro business.
What happens when a business energy contract rolls over?
Rollover contracts tend to be more expensive than the market rate. Although these may be cheaper than you are currently paying, if you agreed to your current deal when the market was high, it will still be better to secure a contract through Exchange Utility rather than solely accepting your renewal offer. To avoid getting into a rollover contract or to gain more information on whether you’re on a rollover deal get in contact with Exchange Utility today by calling 0800 9777 000
How can you avoid being rolled over?
Your energy supplier should make you aware that you will be placed on a rollover or a variable price plan contract at least 60 days before your renewal. This should contain the information on how much your new “variable rate” will cost. Each energy supplier has differing terms and conditions so you should always check with your supplier directly to see how long your termination notice period is and ensure it is before the notice date.
Business energy contracts can be confusing, and getting in touch with a business energy expert will help you to better understand the process – give us a call today on 0800 9777 000 to discuss your options.
If you believe you’re a micro business, it is always worth checking with your energy supplier as there is a chance that they have you down as a non-micro business. If this is the case, then it means when your energy deal is coming to an end you could be rolled over.
What happens if your energy contract has already rolled over?
If your business energy contract has already rolled over, then the likelihood is that there is very little that you’re able to do. Once your rollover contract starts it is impossible to get out of, as you will have signed to allow this once your original deal ended.
Rollover contracts tend to last 12 months and until then you will be stuck within the same deal. Due to the way energy suppliers purchase gas and electricity, it is likely your supplier will have already purchased your usage amount which is why they lock you into your deal for a set period.
Why use Exchange Utility to compare business gas and electricity?
✔ Our customer support team is one of the best in the industry
✔ Comparing gas and electricity with us will save you time
✔ We have years of experience in the comparison of businesses gas and electricity
✔ We have built a solid reputation for being a reliable, independent and trustworthy comparison company
✔ We are able to compare electricity and gas prices from industry leaders to find you competitive rates
✔ Whenever a business gets in touch with us, we always work hard to get them the most competitive rates
✔ Don’t just take our word for it see what our customers are saying about us on Trustpilot
Business energy contract due to renew? Call us on 0800 9777 000 or fill in our energy quote form to see how much you could save…
