Small Business Energy help for broker scams

Banana26

Hoping someone can help!
We have a small business with two electric meters. One contract is up on 31/3/24 and a third party broker (Northern Gas & Power) have got us in to contract to sign back up with the currently supplier (Engie) but at a rate of 60ppkw for over 3 years. 
This is on a blend and extend contract so in theory the price should be the lowest on the market, however i believe we will be unable to obtain quotes (to see if it is the lowest on the market at any point) whilst we are in contract with them?
Has anyone used blend & extend?
We are concerned NGP have conned us in to this super high contract.

Can we cancel/terminate before it starts by contact Engie direct? Will we be liable to pay any costs if we have signed a future contact that has not yet started?

We are really struggling to make any sense of this and need help from anyone that has experience with NGP, Engie or Blend and extend contracts??Thank you!

Gerry1

Welcome to the forum.

I'd be very wary of publicly accusing a company of a 'scam' without strong evidence: it could be considered libellous.

Just because you don't like the result of what you seem to have contracted the broker to do doesn't mean it's a scam.

Similarly, if you're in contract for an extended period it doesn't mean you can break it without facing any consequences.

Robin9

Ring around the big suppliers (and Engie direct)  - if you like what you get quoted give NGP and Engie a months notice at the end of Feb.

You will certainly be able to pay less than 60p - my business contract for 12 months from last October is under 30p

Banana26

@Robin9 i'm not sure companies would be able to quote whilst we are under contract as the Blend contract starts up on 1st April 2024. The cost is ridiculously high so i did consider writing in with notice before the new one even starts?

Robin9

Ask them -  nothing to loose.

Or cancel Engie from 31 March and stay with them on out of contract terms which may well be less than what you are paying now,  Once out of contract start with your new supplier.

What is your annual consumption ?

Jonboy_1984

Are you saying you have signed and returned the new contract already, or have only been offered it so far?

Banana26

Jonboy_1984 said:

Are you saying you have signed and returned the new contract already, or have only been offered it so far?

Yes contract is signed via third party (NGP) to continue with Engie at end of contract, but on Blend & Extend at a rate of 60ppkw. Would Engie offer me a better rate if i called them direct or would they see a future contract already in place?

Banana26

Robin9 said:

Ask them -  nothing to loose.

Or cancel Engie from 31 March and stay with them on out of contract terms which may well be less than what you are paying now,  Once out of contract start with your new supplier.

What is your annual consumption ?

Consumption is approx 72,000kw (holiday park).

QrizB

Banana26 said:

Jonboy_1984 said:

Are you saying you have signed and returned the new contract already, or have only been offered it so far?

Yes contract is signed via third party (NGP) to continue with Engie at end of contract, but on Blend & Extend at a rate of 60ppkw.

I know what's done is done, but what persuaded you to sign up at that rate? It seems a bit mad in the current energy market?

Gerry1

QrizB said:

Banana26 said:

Jonboy_1984 said:

Are you saying you have signed and returned the new contract already, or have only been offered it so far?

Yes contract is signed via third party (NGP) to continue with Engie at end of contract, but on Blend & Extend at a rate of 60ppkw.

I know what's done is done, but what persuaded you to sign up at that rate? It seems a bit mad in the current energy market?

It seems the OP has signed up to a broker and allowed them to sign contracts on his behalf.

It's bit like signing up to join the Navy and then being surprised when you get court martialled after going AWOL to work for Cunard.

Robin9

Gerry1 said:

It seems the OP has signed up to a broker and allowed them to sign contracts on his behalf.

It's bit like signing up to join the Navy and then being surprised when you get court martialled after going AWOL to work for Cunard.

Sounds like a variation on LAMB