Business electric rates doubled??

bigbadmad

appologises if im not doing this post correct, but iv never done one before??
I have recently received new electric rates from Npower for my business which would start in August when my old rates that i was on come to an end after 2 years.
The new proposed rates to start in August have actually doubled should i choose to accept them?
Iv been to other companies who again have very high rates near to that given from Npower.
The dilemma im in is........Should i sign up to a new 2 year contract with one of these suppliers NOW while the rates are at an all time high and have my prices fixed at that rate for 2 years, in a hope that iv got the lowest rate before they rise any more???
Or should i sit it out for a few weeks in a hope that the rates actually drop a little and i can sign a more acceptable fixed rate???
ARE THE RATES GOING TO KEEP CLIMBING????
Any sound advise is more than welcome.

wowsavings

Hi

As a business customer, you need to sort out a new contract, either with npower, or with another supplier. If you do not get a new contract with a new supplier, npower will simply roll you onto another contract and you will be stuck.

Try http://www.ukpower.co.uk/business as it gives you prices to compare. I know there are plenty of other sites out there, but this is the only one I found that gave me a price straight away rather than waiting for a call back from someone.

If you are concerned about being stuck with high prices, you could take out a 1 year contract instead of a 2 year one, but you don't know what is going to happen with energy prices, they could be even higher in a year's time!

bigbadmad

Cheers and thanks for your help.
I still dont know whether its best to enter into a contract now or wait till nearer the time my original contract ends to see if prices are any better?
Who knows what the prices are going to be like in the next 8 wks??
Cheers

Premier_2

bigbadmad wrote: »

...Who knows what the prices are going to be like in the next 8 wks??...

No one can say for certain, but I'd be very surprised if you see any price reduction within the next 2 months.

Is there any notice period you need to give to terminate the current supply contract? The reason I ask is that I was recently looking some standard terms & conditions relating to business supply with a different company and they specify they would require 60 days notice else you would be deemed to have accepted a further contract period.

bigbadmad

Hi. yes i terminated the renewal from Npower within the 60 days time limit and started looking for a better tariff. The trouble is i havent nailed one down yet and the rates have now risen again??? it makes my sick to think that they can just double my bills and i cant do anything about it?

Colin2511

I know this is an old thread, but just wanted to say thanks, as this came up on a google search for the info I needed,- should have come to MSE in the first place