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Don’t Leave It Too Late On Energy Contract Renewals August 26, 2008

Posted by liverpoolchamber in Chamber Services, Services.
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With spiralling energy costs, most businesses would be wise to shop around for the best deal ready for autumn contract renewals. But some could find themselves trapped by uncompetitive contracts, warns Chamber Utilities

“Companies who are facing autumn renewals for their gas or electricity need to act immediately, advises Gary Collins of Utility Auditing, which delivers the Chamber Utilities™ service. “Suppliers require between 30 to 90 days’ customer termination notice to switch contract. Many businesses don’t realise this and are leaving it too late to find a more competitive alternative. Energy prices have increased by more than 100% over the past year alone and are still on the rise. There is a clear financial imperative to test the market in an attempt to mitigate cost increases.”

He added: “Some businesses are panicked by the prospect of terminating their contract in the belief that their supply will be prematurely cut off. We would advise them to serve notice while they consider their options, even if the best deal at the end of the day is to re-contract with their existing supplier. At least this gives them the time to test the market without fear of being locked into an uncompetitive contract”.

Utility Auditing, part of ENER-G Plc, purchases millions of pounds worth of gas and electricity annually on behalf of thousands of businesses. Chamber members are eligible for a free energy assessment to identify the most cost effective solutions for energy and gas, and guide them on the right tariffs and supply capacity to suit their needs.

While contract negotiations are a key element in the fight against spiralling energy costs, carbon reduction activities are crucial in bringing energy spend down further. As a Carbon Trust approved consultancy, Utility Auditing offers funded support to help qualifying businesses maximise energy efficiency.

For further information contact Chamber Utilities™ on Tel: 0845 120 2423, www.chamberutilities.co.uk

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