How Long Will It Take To Switch Business Energy Suppliers?
Any individual who is a business owner will be aware of the importance of keeping energy costs low. It is crucial to ensure that you are never overpaying for the electricity and gas services.
One way to make significant savings is to switch business energy suppliers. There may be many reasons for you to do that. For example, you may not be satisfied with the rates of your current supplier. Or you may have found a better one.
In any case, switching business energy supplier can be your best business decision. If you’re considering doing this, then you’re in the right place. Here are the details that you must know about switching suppliers.
How Long Will It Take To Switch Business Energy Suppliers?
As a business owner, if there is one thing you don’t have to spare, it’s time. That is why before deciding to switch your energy supplier, you must be aware of the process’s time. This will allow you to plan for a smooth transition.
The truth about time is that it can take up to several days. Typically, most service providers complete the process in the range of ten to seventeen days. However, sometimes it takes up to twenty-one days as well.
When switching suppliers, the one thing you can be sure of is that it won’t take more than six weeks. But of course, it is always best to contact the new supplier. They will offer the exact time for the transition to complete.
Besides that, there is another thing you should keep in mind. If you are changing both electricity and gas suppliers, then they can be done on different days. So you can make a timeline for both switches. This will help you ensure that both of them are complete at the same time.
When Can You Switch Business Energy Suppliers?
You can switch the supplier at any time you want to. The only requirement is that you must own the property. Otherwise, you will have to get additional permission to make the change.
Besides that, you will have to settle your dues with the previous supplier. Typically you can opt for switching before you move into a property. Or you may decide to do that while you are already living there.
How To Switch Business Energy Suppliers Before Moving In
There are certain things you must do before moving in to change the supplier. Firstly you will have to inform the current provider at least 48 hours before you plan to move in. Additionally, you must take the meter readings before leaving the old place.
However, you don’t have to worry about measurements if you have a smart or automated meter. Once you have taken the readings, you should send them to your supplier. Make sure to keep a record of everything so that it matches with the final bill.
After clearing your dues with the old supplier, you can sign a contract with the new one. Once the transition takes place, you will no longer have to worry about high energy bills.
How To Switch Business Energy Suppliers After Moving In
Typically, when you move into a new property, it already has a meter installed. Not only that but there is a supplier as well. But of course, you may want to change things because of reliability.
So after moving into a new place, you must take the readings of the meter. Once done with that, you should phone the new supplier and provide them with the relevant details. This ensures that you don’t have to pay the old owner’s bill if they haven’t cleared their dues.
Do You Have To Contact The Previous Energy Supplier?
After moving into a new property, there is no need to reach out to the old supplier. All you have to do without switching is inform the new provider. They will do the rest of the work for you.
For example, the new supplier will inform the old one of the switch. They prefer to do this to avoid clashes. Hence you shouldn’t try to get in touch with the old supplier yourself.
Does Switching Business Energy Suppliers Affect The Property?
Many people think that changing suppliers will affect their property physically. However, that is not true at all. You won’t need things such as a new meter or pipes for switching suppliers.
The new supplier will make use of the meters and pipes already present on the property. So no physical changes will be made to the place. But of course, if you can get new items for more security. For this, you will have to call a technician.
Can You Change Your Mind Regarding The Switch?
All energy suppliers are bound to cancel the switching if you don’t want it. You will have to notify them precisely fourteen days after placing the order. If you meet this requirement, you won’t be charged for anything.
However, if you notify them after two weeks, then the case will be different. The supplier will still cancel the change. But of course, you will have to pay the early exit fee.
When Can You Switch Your Business Energy Suppliers Without Penalty?
Energy suppliers offer two plans to customers. One of them is the variable plan. If you have this one, then you never have to worry about the exit fee. That is because penalties don’t apply to them.
However, if you have a fixed plan, then you will have to pay the penalty. That is because you’ll have signed a contract for this option. And ending it early will require you to pay a fee of $75 or more.
That was everything you must be aware of before switching business energy suppliers. You should keep in mind that changing providers will take four to six weeks.
Once you keep these guidelines in mind, you can formulate a plan. Lastly, always make sure to abide by the notifying limits. This will help you avoid any technical hindrance when switching suppliers.
You can read more about comparing business energy suppliers here.
Other useful links about business energy
What are Average Business Energy Bills?
Switching Business Utilities
EDF Energy for your Business
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