cancelling new energy contract

Gingerdogs

hello . A few days ago I agreed to renew my energy contract which ends on April 2nd 2024 with existing supplier . Since then I have seen better rates particularly  the astronomical daily Standing Charge. Can I cancel the new contract since it does not commence until April ?

TadleyBaggie

Read the T&C's.

Swipe

You have 14 days of the sign up date to cancel with no exit fees

Gerry1

Is this a domestic or business contract?

You can change your mind within 14 days if it's domestic, but business contracts can have much tougher conditions.

Gingerdogs

Its a business contract , I have looked at their lengthy T&Cs and cannot find any mention.

MeteredOut

No consumer protection for business contracts, so unless the T&Cs mention it, you won't have the 14 day cooling off period. What does the contract say regarding cancellation?

Gerry1

Be very careful.  If you search the Energy forum (a search engine is better than the built in search) there are some horrendous stories of people still being locked in to an old contract when they've switched to a new supplier.

One was pursued for £thousands because he'd signed up to a 'Manage My Bills' type of scheme, unwittingly giving them permission to take out a binding long term contract on his behalf. 😱

Gingerdogs

An update on this. I was in the process of taking out a contract with Smartest Energy , they contacted me to say that Opus had objected to the move ,they said I was in a contract until 2026 which was  the new contract which I had cancelled by phone only a couple of days later. I rang to ask what was going on and Opus tell me I am still contracted until 2026 . I asked to cancel the contract and they said clearly and categorically that 'they do not do cancellations. This surely cannot be right , even if there was some penalty surely they cannot make you remain a customer ?

QrizB

Gingerdogs said:

This surely cannot be right , even if there was some penalty surely they cannot make you remain a customer ?

What do your T&C say? Is there any mention of how to cancel and what the penalty is?

MWT

Gingerdogs said:

This surely cannot be right , even if there was some penalty surely they cannot make you remain a customer ?

It isn't particularly unusual to have business contracts which can only be cancelled by giving notice a specified time before a renewal date.

As a business you are considered competent to review the terms of any contract you enter into and understand what you are agreeing to, if you do not consider yourself competent to do that then use a solicitor to review your contracts before signing or verbally agreeing to them...