Customers need to be wary of not ignoring their renewal letter when it arrives from their current business electricity supplier.
A number of suppliers in the UK will tend to offer a renewal rate that is 30-40% in excess of the current retail price with the primary objective that the customer will not act on the letter so that the contract can be rolled over onto more expensive renewal rates.
The suppliers renewal letter is very misleading...
A supplier's renewal letter can be very misleading in the way that it presents the price to the customer by using terminology such as "Don't worry, we are protecting your business prices for a further 12 months". If this terminology is used in the subject header of the letter many customers will trust their supplier and assume that the electricity rates detailed within the letter are competitive and the supplier is offering their best price first time.
A supplier intends to place you on an expensive renewal rate...
This is unfortunately the case as most suppliers will always try and put business energy customers on a expensive renewal rate hoping that the letter is filed away and it is only when the customer gets their first bill after the roll over that they realise how much their energy spend has gone up. Unfortunately in many cases it is then too late to act and the renewal has been assumed.
Read more about 'Avoid Expensive Business Electricity Renewal Prices' here