When can I switch suppliers?
Your switch won’t be completed until your current deal has ended. So the switch can take anything from a couple of weeks to a matter of months, depending on the length of your switching window.
Your switching window is a timeframe set aside towards the end of your current deal. It gives you time to compare prices and arrange a new deal when your current one ends.
It often makes sense to compare deals and switch as soon as your window opens, to make sure your switch is in place before your current deal ends. If you don't arrange a new deal, your supplier will simply roll you over onto more expensive rates.
Switching early can also mean you lock in lower rates if prices go up between your switching window opening and your current deal ending. And signing up to a longer-term deal can mean you benefit from cheap business energy for longer. That's because your rates are fixed for a greater length of time, meaning they could be protected from a number of price hikes.
What else should I know about switching business electricity?
There are a few more things you need to know before you compare business electricity suppliers, such as:
- You can't compare business electricity prices until your existing energy deal has entered its ‘renewal window’. This is usually between 1 and 6 months before your existing deal's end date.
Your supplier will get in touch with the offer of a new deal during this window. It's worth considering running a comparison at this point to see what other offers might be available to you. when you should run a comparison to find a better deal.
- Your company is likely to be subject to a credit check.
- If you have a current supplier you'll need to give them notice that you intend on switching providers. If you don't, you could be rolled over to a standard contract which is typically more expensive.
- Unlike your home electricity, business electricity is contract-based. So you're 'locked-in' to a supplier for a set amount of time — usually between 1 and 5 years.
If you're in debt with your current supplier, you could be refused to switch until that debt is cleared (unless you're on a deemed tariff).
- If you have a large business, you can install commercial energy meters that update every 30 minutes, instead of every hour. Or you can choose multiple meters which report your energy more accurately.
- If you run your business across more than one site, you will have multiple meters to measure your energy supply. Some suppliers may offer a single, multi site package which allows you to consolidate your electricity supply with one supplier and one renewal date.
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