cancelling a contract

sain986t

My electric contract runs out mid October.I made a mistake & signed up to 2 companies for my next contract (don't ask). One of them Yorkshire Gas & Power said they would cancel at a cost of £ 5200.I think this is very expensive even though it was not their fault.Any advice gratefully received.

JJ_Egan

Is this a business contract .

if so its all in the terms and conditions you signed up to .

Gerry1

Presumably this is a business rather than domestic contract, hence not really within the sope of this forum?

Neil_Jones

sain986t said:

My electric contract runs out mid October.I made a mistake & signed up to 2 companies for my next contract (don't ask). One of them Yorkshire Gas & Power said they would cancel at a cost of £ 5200.I think this is very expensive even though it was not their fault.Any advice gratefully received.

So you signed the business up to one provider, forgot about it and then signed up to another provider, which invokes the cancellation procedure for the first supplier?

Yeah, that's business energy unfortunately.  No cooling off periods, you have to be on top of your game for these.

MWT

Do the maths... Go with whichever is the cheapest combination of estimated use over the life of the contract plus the cancellation fee for the other one.

... and yes the cancellation fees are excruciating, but that is what you agreed to when you signed...

sain986t

What I neglected to say was that it is no longer a business.due to ill health we ceased trading mid July and it now for sale as a dwelling only.the energy companies are aware of this.should it make a difference

Robin9

This going to be an expensive error. Not only will you have a cancellation fee for YGP you will be paying a second one when the house sells. What are YGP cancellation terms ? and the other supplier ?

In retrospect your new supplier really needs to be one who is in the Commercial and Domestic markets like BG, Eon. Even then getting a supply changed from Commercial to Domestic can be a challenge.

Robin9

Why as your business closed in July did you even think of renewing your contract. ?

MWT

sain986t said:

What I neglected to say was that it is no longer a business.due to ill health we ceased trading mid July and it now for sale as a dwelling only.the energy companies are aware of this.should it make a difference

The full answer to that is somewhat outside the scope of this group, but just because you 'cease trading' it doesn't mean that the companies are not entitled to their early termination payments from the proceeds of the sale of your business assets, potentially including the sale of the premises as well...

Also if you are selling the premises for domestic use, you would be well advised to get the supply changed over to domestic if you want to avoid problems with potential purchasers.

macman

Liquidate the company: it's a corporate debt, not yours. Does the business have any assets to recover?

Abbey234

Warning to anyone think of going to Yorkshire Gas & Power STAY WELL CLEAR, they will rip you off with £75 non-direct debit fees and even invoice you twice in the same month so they can get double the fees. The trouble began with this firm when they took £1345 out of my account even after we phoned them up and they promised us they wouldn't. This has been goin on for almost 14 months, we keep phoning/email complaining they give you a little bit to make you go away but never sort the problem out, and now are refusing to sort out the problem.