Business energy consumers have been warned not to put off or overlook renewing their energy contracts as the hot summer weather sets in.
Julian Morgan, managing director of the Energy Advice Line, the price comparison, switching and advice service, says any delay in dealing with expired energy tariffs could see many small and medium sized firms paying much more than necessary for their supplies.
Mr Morgan said many energy deals expired in the middle of summer when many people put off finding a new deal due to the warmer weather when electricity and gas consumption was at its lowest.
“Business owners or decision makers who do this could end up paying significantly more than they need to when they get around to turning their attention to their energy supplies when the cooler season starts,” Mr Morgan said.
“Once the warmer weather ends and it starts to turn cooler, suppliers know surplus supplies that they have built up over the summer will eventually run down. It’s then that they tend to put prices up.
‘Basically, firms that fail to switch to another supplier as soon a their contract ends in the summer are likely to find themselves paying much higher prices when the time comes to turning the heating on again.
“It makes no financial sense to put it off.”
Newspaper reports suggest that one in five of the cheapest energy deals end in the middle of the summer. Firms that fail to switch to cheaper deals and flip to the standard rate could pay hundreds of pounds more on their gas and electricity.
Analysts says that some suppliers intentionally time their deals to expire at this time, when heating is far from the minds of business owners and the temptation to put off dealing with energy supplies is high.
”Don’t delay dealing with your energy tariff that has, or is about to expire, just because it’s warm outside,” Mr Morgan said.
“There is nothing to lose by giving us a call, checking our website or using our mobile app while on the move.
“It’s very quick and easy and saves time and money down the track – our advisers know how busy businesses are, which is why they do all the legwork. Plus it’s free – so it makes complete financial sense.”
The Energy Advice Line is a consumer champion and an independent price comparison and switching service for householders and small and medium-sized businesses. The service enables consumers to quickly and simply compare electricity and gas prices, and to switch to the best available deal on the market.
The service also offers free advice and a contract management service, including alerts to remind business consumers users when their fixed-term energy contracts are about to end.
For further information, visit www.energyadviceline.org.uk