Out of contract business Tariff - what to do?

societyjane

We have recently take on a new cafe unit and are on out of contract rates with our supplier which are incredibly high. We are getting quotes form other suppliers all of which are also high.  Should we wait till Oct 1st?  Or will they all need to reduce anyway to the price cap?  The quotes are quite scary are for fixed 24 month periods.  
Any advice would be appreciated.  We have a 1/2 hour meter and are a coffee shop.  Many thanks in advance. 

[Deleted User]

The EPG (and the old cap) do not apply to business contracts.

A new scheme has been announced today to cap part of the rates for business tariffs, so look out for how that works and if the tariffs start to change because of it.  Might be best to stay on OOC rates for the moment until it becomes clear, but only you can decide that.

MWT

The current domestic price cap does not apply to business tariffs.

This has just been published though...

https://www.gov.uk/government/news/government-outlines-plans-to-help-cut-energy-bills-for-businesses

societyjane

[Deleted User] said:

The EPG (and the old cap) do not apply to business contracts.

A new scheme has been announced today to cap part of the rates for business tariffs, so look out for how that works and if the tariffs start to change because of it.  Might be best to stay on OOC rates for the moment until it becomes clear, but only you can decide that.

Thank you for your reply.  It does seem clear that from 1st Oct rates will have to come down, what is not clear is what will be done for bills received before that for out of contract customers that have been unable to take out contracts.  I would hope and am keeping my fingers crossed that bills will be back dated before 1st October as well.   

MWT

societyjane said:

 I would hope and am keeping my fingers crossed that bills will be back dated before 1st October as well.   

I would not expect there to be any support for consumption prior to 1st October, in the same way that domestic support begins at that point.

[Deleted User]

societyjane said:

[Deleted User] said:

The EPG (and the old cap) do not apply to business contracts.

A new scheme has been announced today to cap part of the rates for business tariffs, so look out for how that works and if the tariffs start to change because of it.  Might be best to stay on OOC rates for the moment until it becomes clear, but only you can decide that.

Thank you for your reply.  It does seem clear that from 1st Oct rates will have to come down, what is not clear is what will be done for bills received before that for out of contract customers that have been unable to take out contracts.  I would hope and am keeping my fingers crossed that bills will be back dated before 1st October as well.   

Nothing will be done for any time before 1 Oct.  The cap doesn't work backwards, nothing else is likely to either.