Do I need to give notice to leave my small business energy contract?

Knowing when to leave your fixed energy contract could save your business money and help you grow. Often roll-over or variable contracts when your fixed tariff ends, are more expensive than fixed rates in the market. Before you know whether you need to give notice, here’s what to do if you’re tariff is up for renewal, or you want to leave your current supplier:

Review your contract: understand the terms and conditions, contract end date and any associated exit fees or termination fees if you decide to leave your contract early.

Know your unit rates and standing charge: make sure you’re aware of these charges and your usage, it’s important to calculate quotes for your actual usage in KWh to get a like-for-like quote.

Compare new offers: research and compare new energy suppliers to ensure you’re getting the best deal. Compare total costs and research other elements that are important to you and your business from an energy supplier. From our research we know that service ratings, online account management and sustainability credentials are important to businesses. 

What’s notice to leave?

Also known as a contract termination notice, this is a written or verbal communication to let your energy supplier know you’re changing tariffs with them or leaving to switch to another energy supplier. 

When do I need to give notice to leave for my small business energy contract?

In most instances you don’t. 

Renewals: if your current contract has ended and you want to switch, you no longer need to give notice to leave. Simply pick your new supplier and they’ll manage the rest.

Switching from a roll over or variable tariff: unless your T&Cs state otherwise, you don’t need to give notice if you want to switch away from a tariff that you’ve been on after your fixed tariff has ended. 

Fixed tariffs: this depends on your terms and conditions. If you’re keen to leave your current supplier, it’s best to contact them and settle your exit fees so your energy switch to your new supplier goes smoothly. If you don’t pay your exit fee, or you have outstanding debt on your contract which needs to be repaid, your current supplier can decline the switch request until all payments and fees are settled.  Citizens advice say ‘It’s usually best to wait until the end of your fixed-term contract before you switch.’

Have the rules on giving notice to leave changed for microbusinesses? 

From 1st October 2022 Ofgem introduced new guidelines which meant energy suppliers were no longer allowed to request a notice to leave from micro business customers. 

It’s just one less thing for small business to worry about when looking for a new contract. 

Can I give notice to leave anyway?

You can still let your energy supplier know, they may add a note to your account but there isn’t much else they can do with that information. Save yourself the time and spend it finding the next right tariff for your business. At EDF you can get a quote for your small business in 60 seconds. 

What happens if I do nothing when my fixed tariff ends?

Wonder if you're on a small business fixed tariff, what happens when it ends if you don’t give any notice or choose a new tariff?

Since 2015, Ofgem introduced new guidelines that all suppliers should send microbusinesses a renewal letter 3 months before their contract end date. This will show you information about your options. 

In most instances you’ll get put onto a roll-over tariff or variable option, each supplier offers different options. Often choosing another fixed tariff with your current supplier or another one could be cheaper. 

If you’re on a small business fixed tariff with EDF, what happens when it ends?

• You'll receive a contract renewal letter 90 days' before your contract end date with options.
• You can either renew onto a Fixed tariff, do nothing and roll on to Freedom or choose to leave and find a new supplier.
• If you choose to renew, it's simple - we'll start your new contract the day after your current contract ends. You can usually save by fixing into another contract vs staying on a variable tariff.
• If you do nothing, you’ll be put onto our Freedom tariff - a variable contract with no termination fees – this give you time to review your options. 

Find out more about the small business renewal process at EDF.

If you’re looking to leave your current supplier, you can get a small business quote with EDF in seconds.