Broker contracts

MWT

cadavell said:

I signed a contract on November 2019 but my energy contract doesn’t start until 3rd November 20, so in my mind my contract hasn’t begun yet So I should be able to cancel without any charges 

Your contract began when you signed it, cancellation will be subject to the terms you willingly signed at the time.

The service delivery date does not have to align with the contract date so you can certainly enter into a contract today for delivery of service in a years time, but most people would not see that as a good idea.

Business contracts require careful reading before signing as the usual consumer protection regulations do not apply to you.

Carefully read what you have signed and see what the termination clauses and penalties are...

cadavell

A year ago the tariffs were going up every year so at the time it was a good deal

macman

But you effectively signed up to a five year deal. No one knows where prices will be a year ahead, let alone five. Have you not noticed that we are in the midst of a pandemic, which has massively reduced energy demand? Prices have therefore fallen.
You took a long term gamble, and in the short term, you've lost. The good news is that prices could go up again in the next few years, in which case, your four year fix may be a good one. And, of course, you know exactly what your energy budget needs to be for the next four years, as it's fixed.
There won't be any cooling-off period on a commercial energy contract, you committed upon signature. If there is, your contract would say so. 

shrinkinguniverse

Usually when you sign up for a fixed business energy contract you get good rates for the duration of the contract (because the prices are locked in) but after that time period they can just up the rates.  
Did your contract expire which is why the rates have gone up?  Basically, it's better to keep changing supplier whenever your contract expires so you're always on a competitive rate.