Frequently Asked Questions about Business Energy Suppliers
Posted on Sep 13, 2021
Research by the Federation of Small Businesses has revealed that 70% of businesses have experienced difficulty when it comes to comparing energy suppliers, with 43% saying they have never switched suppliers. These are incredible numbers when you think about how the cheapest business electricity prices could help you save money as a business.
A lack of understanding about different energy suppliers, wanting to remain loyal to existing suppliers, and a concern about the effort and time it may involve to switch business energy suppliers are all things that stand in the way of businesses potentially making the switch to the cheapest business electricity supplier.
However, switching business energy suppliers is not the long and complicated task that you might think it is, and the savings you could achieve will make any slight effort on your part well worth it.
Here are some FAQ’s relating to switching business energy suppliers.
#1 How do I find out who my existing supplier is?
You can find out who supplies your current business gas and electricity, by looking at your most recent utility bill – the contact details of your current supplier will be printed on it.
If you have just moved to new premises or you can’t find your latest bill, you can contact the Meter Point Administration service to ask for their details.
#2 What is a deemed contract?
If you have recently moved into new premises then a deemed contract will probably be in place for your electricity, gas, or maybe even both if you have not agreed on a contract with your current supplier. If your existing contract has come to an end but you are continuing to consumer electricity then a deemed contract probably exists. The cost of deemed contracts tends to be about 80% more expensive than a negotiated contract – so you can see why they are not good news for many businesses.
#3 What is a rolling contract?
A rolling contract is when your business gas or electricity supplier rolls you over into a new contract automatically – which may be the case if you fail to tell your supplier of your intention to end a contract before the end of your notice period.
#4 Do I need to tell my existing business energy supplier that I am leaving them?
If you decide to leave your existing energy supplier and switch to another one, then you must inform your existing supplier by either
- Telling them directly
- Asking your comparison company (D-ENERGi) to provide them with a Letter of Authority (LoA)
#5 What is a Letter of Authority (LoA)
A Letter of Authority is a recognised legal document that allows us to liaise with energy suppliers on your behalf, with your permission.
It basically allows us to call time on your existing tariff and set you up on a cheaper and more competitive one.
D-ENERGi is here to help businesses across the UK save money and make the switch. Call us today so that we can help you find the cheapest business electricity rates UK.