17th February 2017

Don’t be an April Fool – check your business gas and electricity renewal date

Many business’ gas and electricity renewal dates fall in April, so now is the time to check yours. Just like your home and car insurance, you will very rarely get a good renewal price and that’s why you should switch energy supplier every year.

Get your bills out – below is advice on elements in your bill to take note of when comparing gas and electricity prices:

  1. Check your renewal date – if it’s not on your bill you can call or email customer services to find out when it is. The contact details will be on your bill.
  2. Check your gas and electricity tariff costs in pence per kWh. Sometimes this is split into day/night/weekend.
  3. Check if you have standing charges per day and capacity charges.
  4. Check how much gas and electricity you consume per month – this is measured in kW hours. Remember to check what period your bill covers and factor in your consumption accordingly – it may not be an exact month.

Now you are fully equipped to compare different suppliers against your renewal quote.

The switching process is not too difficult – so when you get your renewal details, follow the instructions below:

  1. Using the details above, call three gas / electricity suppliers, give them the above details and ask for a comparison quote. Check in particular for special discounts for monthly or quarterly discounts when paying via direct debit.
  2. When you have calculated the comparable annual cost for the various quotes, go back to the most competitive company and ask them to send you a contract to fill in.
  3. Fill in, sign and return the new contract and remember to get the renewal date right.
  4. IMPORTANT: Immediately cancel the contract with your current gas or electricity supplier – do it straight away. Often suppliers will put barriers in the way – this is why you need to cancel soon. If your new supplier tries to switch you over before the effective termination date, your old supplier will raise an objection which slows the whole thing down whilst you are on out of contract rates.
  5. There you have it – you are switched over and saving money!

If you need any advice on switching you can contact us on hello@switchmy.com or 01772395338.

 

Rachel Hurley

Rachel is one of the SwitchMy content contributors. It's Rachel's job to hunt out the best news and content to arm our customers with everything they need to know about business energy and the pros of switching.



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