A deemed rate contract is put in place when you use energy without having negotiated a deal with your supplier. They are rolling contracts which last for 28 days, meaning that during each month without switching, your payments could increase. The good news is that you can cancel and switch to an agreed deal in just 28 days.
Regulations have been put in place to limit the amount of deemed energy contracts. These include your provider having to inform you of other available deals, while making sure the terms of your deemed rate tariff are easily understood.
Even though providers are required by law to suggest alternate deals, around 10% of microbusinesses are currently on a deemed rate contract. This means it’s incredibly important to be pro-active when it comes to energy, ensuring you know what type of contract you are on and when it ends.
If you do find out you are on a deemed rate tariff, there’s no need to worry. As mentioned, within 28 days you could have switched to a better deal. Unlike household energy, business energy needs to be switched via telephone rather than online. That’s because there is more to take into account compared to domestic policies.
By speaking to an expert on energy, you can quickly access the best deals without having to do any long-winded research. Simply provide information on your energy usage, business location and some other minor details from your last bill and we will compile a list of the best energy deals. A deemed rate contract is put in place when you use energy without having negotiated a deal with your supplier. They are rolling contracts which last for 28 days, meaning that during each month without switching, your payments could increase. The good news is that you can cancel and switch to an agreed deal in just 28 days.
Regulations have been put in place to limit the amount of deemed energy contracts. These include your provider having to inform you of other available deals, while making sure the terms of your deemed rate tariff are easily understood.
Even though providers are required by law to suggest alternate deals, around 10% of microbusinesses are currently on a deemed rate contract. This means it’s incredibly important to be pro-active when it comes to energy, ensuring you know what type of contract you are on and when it ends.
If you do find out you are on a deemed rate tariff, there’s no need to worry. As mentioned, within 28 days you could have switched to a better deal. Unlike household energy, business energy needs to be switched via telephone rather than online. That’s because there is more to take into account compared to domestic policies.
By speaking to an expert on energy, you can quickly access the best deals without having to do any long-winded research. Simply provide information on your energy usage, business location and some other minor details from your last bill and we will compile a list of the best energy deals.