Business Energy FAQs

We've compiled answers to some of the most common questions we receive about our services, the energy industry, and more. Whether you're a prospective client or just curious about how we can help you, you'll likely find the information you need right here.

Frequently Asked Questions

The energy industry can be overwhelming and complex. Our business energy FAQ’s are here to help you better understand the market.

Can’t see the answer to your question? Contact our team on 0800 989 0141 or book a consultation using the button below for expert advice from our in-house energy brokers.

Why should I use an Energy Broker when I have always just done it myself?

The extreme market circumstances that are typical in the energy sector are confusing. Making sense of all the many components is a difficult, time-consuming task that may be quite frustrating. For any organisation, attempting to navigate the energy market without expert assistance may prove to be a costly choice. Any organisation that is unfamiliar with the inner workings of the energy market is recommended to consult an energy specialist. To navigate this complicated market successfully, knowledge and timing are crucial. BP can meet all of your energy demands by offering guidance from professionals who know the market.

What is a Letter of Authority (LOA)?

A Letter of Authority, or 'LOA' as you may hear from time to time, gives brokers like ourselves the permission to obtain meter & supply data from your current supplier/s. Our LOA covers electricity and gas, if you have both! Essentially it is you giving consent to your current supplier/s to provide us with the necessary information needed to tender your utilities supply. It can also be quite useful when you're strapped for time or just struggle to find a copy of a recent bill!

I don't know my annual consumption for my business' electricity/gas supply?

You can either contact your current supplier, or you can estimate your consumption by calculating this from the consumption shown on your last invoice. Alternatively, we can find out this information using a Letter of Authority.

How far in advance can I agree a business energy contract?

For many energy suppliers you can agree a business energy contract anywhere between 3 and 5 years ahead of today. However, the majority of suppliers offer a renewal window of 12 months prior to your current contract end date.

Is there a cooling off period with a business energy contract?

As standard in the industry, business energy suppliers do not operate a policy of cooling off periods when agreeing contracts with their customers.  This is because suppliers forecast and buy the energy based on the business’ consumption. If they were to offer a cooling off period, the argument goes that they would need to price the potential risk of non-recovery into the contract and as a result levy higher charge.

What should I do if my bill is incorrect?

If you suspect your bill is incorrect, submit it to us for a comprehensive review. Our team will conduct a thorough investigation and, if there is an error, will correspond directly with your supplier to resolve the issue promptly, ensuring you are not overcharged.

I've received my renewal offer from my current supplier, what should I do?

Make sure you check the tariffs available from us and compare them to your renewal offer. 99% of the time, our tariffs will be far more competitive than your renewal offer and will save you a significant amount!

How do you get better tariffs than me going direct to a supplier?

In simple terms, we can identify competitive tariffs for our customers because we aim to match the needs of the customers to particular energy suppliers.

Should I contact my current supplier to tell them when I'm leaving?

As part of the service, we liaise directly with your old supplier to inform them of the switch, so that’s one less job you need to think about!

Should I cancel my old supplier's direct debit?

When you switch suppliers, you may find you end up with two active Direct Debits on your account, that is until your old supplier closes your account. However, the good thing is you’ll never have to pay for the energy you use twice, with any overpayments always refunded to you. To prevent this, you could look to cancel your old suppliers direct debit, but you need to think about the impact this cancellation may have on your business as any closing debits or credits will need to be paid using an alternative method, such as a cheque.

What are Deemed (or out-of-contract) Rates?

Deemed rates usually apply to businesses that are either; new to the property, have terminated a contract but failed to switch to a new supplier or they have missed the contract end date and are now out of contract. These rates are extremely expensive and are arguably the worst rates to be on…however the good news is that there is only a maximum of 28 days’ notice required to switch onto the cheapest electricity rates.

How do I declare a lower rate of VAT on my energy supply?

VAT is normally charged at 20% on business energy. However, in certain circumstances a business energy customer can qualify to pay a reduced rate of VAT.