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Business Relocation: A guide for businesses to switch and save

Moving business premises involves a mile long to-do-list to manage and it can be stressful process for most business. This guide will show you what steps you can take to manage your energy contracts when relocating.

Why do businesses relocate?

One of the most common reasons why businesses relocate is to lower their operation costs. That includes rent, rates, electricity, gas and water. The cost of doing business can vary significantly from one city to the next. Chief among these concerns is the cost of owning/leasing and operating a facility. The cost of energy alone can determine whether a business is profitable or losing money every month.

What happens to your electricity and gas contracts when you move premises?

Two things can happen to your energy contract when you move from one business premises to another:

  • Your existing energy contract will be transferred to your new premises.

  • Your existing energy contract will be cancelled and you have to setup a new contract with your existing or current energy supplier for your new business premises.

When you relocate, you get an option to end your current business electricity and gas contract before it gets to the contract end date. That means you have an option to search for cheap business electricity and gas for your business. Your current energy supplier can inform you if they will end their contract or if there are any penalties you have to pay to terminate your energy contract early.

Business energy contracts are linked to the supply point, meaning that your current energy contract will not transfer over to your new business address. Even though your energy consumption is more or less same at the new premises, still the energy supplier, meter size and consumption will be the deciding factor for new energy contract.

Things to remember when moving out

Before moving out, it is important that you let your energy supplier know well in advance (1-2 months) that you are moving out. This will help your energy supplier to issue you the final bill or in some cases, arrange a transfer of your supply to new address.

Some energy suppliers have an online system where you can inform them about your moving out plan but with most, you may have to call them to let them know that you are moving out. When using online system or calling them, make sure to have the following information:

  • Your electricity or gas account number(s)

  • Your meter reading on the date you are moving out as this will help your energy supplier to issue you a final bill

  • Your new business address or your home address where your energy supplier may contact you regarding your contract or bill.

  • Details of your current land lord or authority where your energy supplier may confirm that you are moving out of your current premises.

It is advisable to start looking for electricity and gas tariffs with various energy suppliers. You can also use Online Price Comparison

What happens when you move in?

When you move in to your new business premises, you have to start looking for electricity and gas prices from different business energy suppliers to get the best energy deal for your business. As a new owner or a tenant at your new location, most energy suppliers will ask to show them some sort of proof that you are the owner/tenant at the new location.

When you move into your new business premises, you might find out that the electricity or gas supply has been disconnected. This happens when the previous owner/tenant did not pay their bills or their energy contracts were not cancelled. As a new owner, an energy supplier may ask you to pay for the reconnection fees for restoring your energy supply and in some cases, a supplier may need some guarantee deposits before supplying electricity or gas.

To switch your business energy today call 0345 021 5000

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