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Carbon Reduction Commitment Legislation
Obligations for Half Hourly Supplied Organisations
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Tapas Bar win their heat of The F Word
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CostMaster achieve top scores in Eon Survey
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CostMaster saves you money
Up to a million small businesses could see their energy bills remain high when they come to renew their contracts, despite falling fuel prices. Every month about 90,000 business energy contracts expire, but many firms fail to realise this in time to cancel the contract or switch energy provider. If they receive no notification, providers can automatically renew the contract on a rollover basis, in most cases locking the business on to a far higher rate. A recent survey found that 84% of small businesses were unhappy with their current supplier, but only 14% knew when their contract was due to end.
Most providers require businesses to give at least 90 days’ notice before the end of an energy contract if they want to move elsewhere. ScottishPower recently changed the terms of its business contract so firms have a ‘termination window’ of between 90 days and 45 days before the end of their contract. Failing to give notice in time can cost small businesses dear. This time last year, some tariffs reached 14p per kilowatt-hour for business electricity and 5p per kilowatt-hour for gas. Automatic rollover pricing allows suppliers to continue these high prices despite the sharp decrease in wholesale prices since 2008.
The CostMaster tariff review service is designed to combat this. By simply filling out an enquiry form and returning a “letter of authority” we can make sure your current supplier doesn’t roll your contract over. We can then provide the most competitive pricing from the whole market to get you the best savings possible. Current competitively renewed tariffs are typically less than 9.5p per kWh for electricity and 3.5p per kWh for gas –showing a possible saving of up to 33% against last years prices.
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