How to cancel a business energy contract

Successfully cancelling a business energy contract can be difficult – not least because suppliers often make cancellation instructions particularly hard to find. But there are steps you can take to reach the right conclusion

Unfortunately, it’s all too common for businesses to find themselves tied into an energy contract they aren’t happy with. Whether due to changing circumstances, unwanted automatic renewals or having been mis sold the contract in the first place, businesses across all industries are experiencing the consequences of a poor energy deal, and the pressure to cancel.

But understanding how to cancel or switch a business energy contract is no easy feat, as there are plenty of hurdles to overcome. We’re going to take a closer look at how to cancel a business electricity contract or business gas contract, and explore the various challenges businesses are facing – as well as understanding why so many organisations are choosing to enlist the help of business energy solicitors.

How do I cancel a business energy contract?

One of the dangers that both domestic and commercial energy customers face is that they will be placed on a rollover energy contract once their current contract expires. These rollover contracts will charge much higher prices, with none of the incentives attached to agreed energy deals.

Ofgem have grown better at addressing this issue in recent years, with many suppliers placing customers on variable rate contracts rather than rollover contracts. These still have higher rates, but customers can leave with 30 days’ notice.

In order to successfully cancel a business energy contract, you need to find out your deadline to terminate. These will be in your terms and conditions, but if you can’t find them, call your electricity supplier. You’ll also need to log your termination with your electricity supplier to make sure you are free to switch. A termination notice can be very brief, simply containing your account number and a request to terminate your contract on a certain date.

Business energy contracts are being mis sold

One of the main reasons for wanting to cancel a business energy contract is being unhappy with the costs, and this is usually the result of a mis sold business energy deal. A growing number of businesses are realising that the contracts they were offered by their energy brokers are actually unethical, resulting in them paying more than they should for their business gas and business electricity.

Hidden business energy commission is being included in energy contracts, benefitting brokers while also forcing businesses to pay extra costs that they weren’t made aware of when agreeing their energy deal. Unfortunately, business energy deals aren’t monitored by Ofgem in the same way domestic energy deals are. This gives brokers the ability to be less transparent when agreeing a deal, which often results in hidden costs being and include hidden costs.

Because of this, organisations are seeking out the help and advice of business energy solicitors.

Energy contracts for businesses are legally binding

Commercial contracts are legally binding, with no cooling off periods or options to leave early without paying off the rest of the amount you’re expected to spend. However, if you’ve been the victim of a mis sold energy contract, you could receive payment to make up the extra spending you’ve been forced to provide to your broker.

Business energy solicitors like Winns Solicitors are helping companies get justice for the hidden business energy commission they’ve paid. If you’re trying to cancel a business electricity contract or a business gas contract, getting in touch with business energy solicitors could be your first step to freedom.

If you think that you’ve been victim to a mis sold business energy claim, the time to act is now. Get in touch with Winn Solicitors by visiting https://www.winnsolicitors.com/energy-mis-selling-claims