Moving to a new business premises is an exciting, positive step for your company. But with a ton of things such as equipment, internet and insurance to set up, it’s bound to be a challenging period.
While you’ll have a million different tasks jostling for priority, there’s one that you’ll benefit from bumping up the list. If you don’t arrange new contracts for your business’s energy supply, you’ll end up paying far more than you should.
Your business’s electricity and gas contracts will cease on the day you leave you old building. This is because your energy deal is linked to your supply point.
You shouldn’t normally be charged a penalty fee for exiting your contracts early because you’re moving premises, but be sure to check the terms and conditions of your deal. You may need to provide your old supplier with proof that you are giving up control over your old building.
On the day you move out, note down or take a photo of your electricity and gas meter readings and give it to your old suppliers so they can process your Change of Tenancy notification. Depending on the balance of your account, you’ll either be charged a final bill or be refunded. It’s a good idea to leave any direct debits in place until you get these final bills.
To help things go as smoothly as possible, give your suppliers at least one month’s notice of your planned moving date and make sure they have your new address so they can send your final bills.
Moving business premises is a great opportunity to negotiate a better energy deal.
If you’d like to transfer your business’s current energy deal to your new address, you’ll need to talk to your supplier. While it may be possible, it’s more likely that you’ll have to arrange a new deal as your supply contract takes things like location and business size into account. If the terms of your old contract stipulate that you’ll be charged a termination fee for leaving early, they may be waived if you choose to use the old suppliers once again.
On the day you move your business into its new premises you should again take a note or a photo of your new meter readings and submit them to both the current suppliers of your new property and your chosen new suppliers.
To find out who is currently supplying your premises with gas, call the meter number helpline on 0870 608 1524. For electricity, phone the Local Electricity Distribution Company for your area.
When you move into your new premises, you’ll automatically be transferred onto a ‘deemed’ rate with the building’s current suppliers. These are expensive rates so it’s important that you move your company off them as soon as possible.
In some cases, the supply to your new building may have been disconnected because the old tenant failed to pay their bills. You may have to pay a reconnection fee or a deposit to get it reinstated. If your building is brand new, then you’ll also have to pay a connection charge and the supply could take some time to set up.
Your new building may let you benefit from energy efficiency savings so enquire about a certificate with the property manager if you’re a tenant or conduct an audit if you’re the owner.
In some situations, your tenancy may stipulate that you pay your energy bills directly to your landlord who will then pay the supplier. You’ll need to talk to your landlord if you wish to change energy suppliers or deal, although this may not always be possible.
Even if your landlord pays the supplier, you will still be responsible for making sure your energy accounts stay in balance. Check the terms of your tenancy agreement thoroughly so you’re aware of how your energy bills are managed.
Moving business premises is the prime time to see what energy deals are on offer and change to a great new agreement or supplier.
To do this, contact suppliers individually to request bespoke quotes. Dual energy contracts aren’t available for business customers so you’ll have to do this for both your electricity and gas supplies. Negotiate to get the best deals and compare the unit cost and the standing charge as well as the service you’ll receive.
Switching energy deals will benefit your company’s bottom line, but it can feel like a time consuming and confusing process. Avoid the hassle and instead let MoneySuperMarket take care of everything so you can get back to running your company. After just a short phone call, our business energy experts will gather the most competitive rates from across the market. They’ll give you sound advice on which look like the best deals for your needs. Once you’ve found the deals that suits you the best, we’ll set them up with your old and new suppliers to ensure there’s no disruption to your supply. The switch should take about six weeks.
Call MoneySuperMarket today on 0800 088 6986 to hear more about how we can save your business money by switching your energy deals.
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