Let your current supplier know that you’re moving
Now you have to inform your current energy supplier that you are terminating your business energy contract or it will be declined. This could result in your business being put on a deemed contract. OFGEM believe that 10% of the UK's microbusinesses are currently on deemed contracts. This is despite prices on these contracts are on average 80 per cent more than rates charged in a negotiated contract!
To help you avoid this, we have provided termination letter templates. You can use these to inform your current business energy supplier that you will be terminating your contract. This could be either your business electricity contract, business gas contract or both.
We would also recommend that you keep a signed copy of your Termination Letter on file.