What happens when my Business Energy contract rolls over?
End of Contract Roll Over
Traditionally, if you do nothing during the renewal period at the end of your business energy contract you will be rolled over and locked into an expensive renewal tariff for at least a year.
As around 50% of SME’s allow themselves to roll over this is a very costly problem for many companies.
In July and August 2013, under pressure from Ofgem the Big 6 all began the process of removing their roll over business contracts over the next year.
A table of the time scales is below.
No new tariffs are being specifically introduced; instead any customer that takes no action at the end of their contract will be placed onto a rolling monthly tariff allowing them to switch at any point with no exit fees. These rolling contracts however are much more expensive than the best rates available.
You still need to take action during the few months before your contract ends during your renewal period.
You may not end up locked into a tariff for a year, but you will still be on prices which are much higher than the cheapest available to you.
|Supplier||Roll Over End - New Customers||Roll Over End - Existing Customers|
|British Gas||September 2013||June 2014|
|EDF||September 2013||September 2013|
|Eon||April 2014||April 2014|
|nPower||April 2014||April 2014|
|Scottish Gas||April 2014||April 2014|
|SSE||April 2014||April 2014|