Business Energy Contracts

It might seem a bit unreasonable expecting people to know their exact unit rate and standing charge. However, when the time to replenish your energy contract comes it’s excellent to know these details, so that you can see how the renewal offer your energy supplier sends you compares, and also to ensure you are fully prepared to go out and start finding a better deal.

The easiest way is to look at your current energy bill.

Once you’ve establish your unit rate and standing charge you will require to know if they’re competitive. Your energy supplier and your bill aren’t going to help here; this is where we come in, at Lloyd energy.

Even if you are not prepared to switch you energy supplier we can provide you with a benchmark price you should be paying currently and of course when the time comes we'll handle all the hassle of switching for you.

This is a crucial detail if you don’t want to be rolled over. Rollover is when your business energy supplier automatically signs you up for a new 12-month contract.

These contracts are often a lot more expensive than the most competitive rates on the market, and you’ll be stuck with them for the full term. You should know your contract end date and your termination window (see below) so that you can make sure you don’t get rolled over and to ensure your new contract follows flawlessly on from your existing deal.

The end date of your contract should be on your energy bill. To find out where visit our business energy guide which lists by supplier the location and terminology used to display your end date.

You should keep eyes out for your renewal letter - your business energy supplier will send you a letter, between 60 and 120 days before the end date of your energy contract. To find out when you can expect to receive your renewal letter visit our business energy guide.

The renewal letter is critical as it is not only the renewal price they are offering; it also may feature an automatic roll-over price and the deemed or out of contract price.

Remember it’s not rude to walk away and say no to the first contract offer you receive – it won’t be the cheapest.

Your business energy contract has something called a ‘termination window’ - this is the period within which you are allowed to tell your energy supplier that you don’t want to be rolled over.

You need to know the termination window because if you contact the supplier too early or too late, you can still be rolled over onto a premium 12-month contract.

To understand you termination window visit our business energy guide Some suppliers are doing the right things and are including the details of your termination window on their invoices next to your contract end date.