EDF Energy becomes the first supplier to offer fixed prices with no exit fees to small business customers whose contracts are automatically renewed
The customer-friendly move ends automatic rollover “lock-ins” for small business customers.
EDF Energy’s small business customers who do not contact the company at the end of their contract will now have their prices frozen for a year but will have the freedom to leave for free at anytime if they find a better deal during that period.
Other suppliers have recently announced plans to stop “auto rollover” contracts by moving customers onto variable priced rolling-contracts.
EDF Energy’s initiative however goes further by ensuring small business customers are protected from any price increases for 12 months – and still have the choice of moving to another product or supplier at any time without paying a penalty.
The move to end exit fees for firms automatically renewing their contracts builds on EDF Energy’s innovative approach to helping its business customers. It has launched two business-friendly tariffs – Freedom for business and New Start – which put the customer in control of their tariff.
Freedom for business is a variable price tariff that comes with no exit fees and the freedom to move onto a fixed priced contract at any point. New Start offers start-up businesses a short term contract, low daily charges and no exit fees.
Richard Hughes, director of small and medium business at EDF Energy, said: “We have listened to our business customers and have responded by boldly changing the renewal process to make it simpler, fairer and more flexible.
“Customers who do not contact us before their contract end will be moved onto our Easy Fix tariff, which will freeze their prices for a year but comes without exit fees. This means they get the best of both worlds: protection from price increases and the total freedom to change product or supplier at any time.
“We believe this truly meets the needs of small and medium business customers – and underlines our commitment to offering innovative, bold products which put our customers in the driving seat.”