Managing Business Electricity During a Change of Tenancy

Moving out is an incredibly stressful time, especially if you're moving a business from one premise to another. There are more than a few loose ends that'll need to be tied up to ensure that the move is quick and successful. Moving your energy contracts from your old location to your new one may sound like a complicated process, but switching your energy contracts can actually be quite a simple process if you keep a few things in mind.

Change of Tenancy Letter

You'll have to keep your energy supplier abreast of your change of tenancy. It's important to do this so that your business isn't charged for any bills incurred by the tenants after you. Your current energy supplier may require some form of proof that you are indeed moving locations. They may send you a change of tenancy form and request confirmation from your solicitor, landlord or estate agent. Alerting your energy supplier of your change of tenancy will allow you to negotiate a good contract for yourself if they also supply your new location.

Early Cancellation Fees

If you're moving out before your energy contract has ended, you might be subject to some early cancellation fees from your current energy supplier.

Check the Terms of the Tenancy

Check your new lease for terms of tenancy. As a general rule, you will most likely still be in charge of your business energy bills. In some cases, your landlord might be in charge of making sure the energy bills are paid. In this case, you won't have much choice in which energy supplier you use and which tariffs you're bound to.

Deemed Contract

Before you move into your new business location, the energy supplier will have been made aware of a change in tenancy. Despite this, energy suppliers are obligated to keep supplying energy to that premise.

You must make sure that you have signed a contract with an energy supplier before you make the move. If you skip this step, you'll find yourself paying out-of-contract or deemed contract rates. These rates are typically more expensive than other tariffs on the market, so it's in your best interest to make sure you have a contract in advance.

Secure a Good Energy Deal

Once you've made sure your current supplier is aware of your imminent move. The next thing you have to do is make sure you have a good energy deal for your new business premise. If your current supplier has coverage in your new location, you can try and negotiate a better deal for a new contract.

Compare Deals

If your current energy supplier doesn't have coverage in your new area, or if they aren't offering a better deal, you might want to find a new supplier. Comparing different deals from various suppliers has never been easier. You can use an online comparison tool or website to find the best deals on the market.

Pick a Deal

Once you've found the right deal for your business, sign the contract and lock it in. Once you've committed to your new supplier, they'll take care of the rest. Your new energy supplier will handle the switch of suppliers at your new location. There's not much for you to do after that.

Meter Readings

A good practice, to ensure that there are no problems in the future, is to do meter readings before you vacate your old location. Make sure that you take note of the readings and have pictures as a backup. You should do the same when you move into your new location. Take note of the meter readings and take pictures as a backup. Energy suppliers typically take note of readings every half hour but your own readings will be useful to have on hand in case there's a discrepancy with your final bill or first bill.

Moving your business can be stressful, but taking care of your energy contracts doesn't have to be. There are a few simple steps to complete when you're moving your business from one location to another. Following these simple steps can be the difference between having a great energy deal and paying through the nose.