Energy contracts are a crucial aspect of managing your energy costs and ensuring reliable supply. Whether you are negotiating new contracts or reviewing existing ones, understanding the terms and implications is essential for effective energy management. At NFU Energy, our contracts team is here to guide you through the complexities of energy contracts and help you make informed decisions. Here are some common questions about energy contracts and how our team can assist.
- How do energy contracts work?
An energy contract is an agreement between your business and a supplier that outlines the price, terms, and length of your energy supply. Contracts can have either fixed or variable rates, meaning your price can stay the same or change based on the market. You also agree to a contract duration, usually between 1 and 5 years.
How NFU Energy can help: NFU Energy helps you understand the complexities of energy contracts, negotiate the best rates, and ensure there are no hidden fees. We also manage contract renewals and supplier switches, aiming to ensure you never end up on expensive out of contract rates.
- What happens when my energy contract ends?
When your energy contract ends, you may be placed on more expensive "out of contract" rates if you do not act. These rates are often much higher than those in a negotiated contract, so it is important to renew, renegotiate, or switch suppliers before your current contract expires.
How NFU Energy can help: When you are ready to review your options, NFU Energy can help you find the best deal, negotiate with suppliers, or assist with switching. We aim to make sure you avoid costly rates and secure the most competitive terms for your business.
- What should I look for in an energy contract?
Choosing the right energy contract involves considering the price structure, contract length, hidden fees, and flexibility. In addition, the energy market conditions play a key role. Missing key details could lead to higher costs or contract terms that do not fit your business needs.
How NFU Energy can help: We constantly monitor the market to give you the best prices on contracts that also suits your business without any unexpected charges. We also help you evaluate all contract terms, understand the energy market and help you make informed decisions tailored to your specific needs, ensuring long-term value and stability.
How do I know if I am getting the best rate?
Energy rates can vary due to market conditions, and it is easy to overpay if you do not regularly compare offers or negotiate with suppliers.
How NFU Energy can help:
We compare rates from multiple suppliers and negotiate on your behalf to secure the best deal. NFU Energy also offers exclusive monthly buying groups for NFU and NFU Scotland members, helping you benefit from lower rates through collective buying power. This ensures you are always getting a competitive price tailored to your needs. NFU Energy Buying Group | NFU Energy
- How do I switch my energy contract?
Switching your energy contract usually involves moving to a new supplier at the end of your current contract. Review your existing contract early to understand any early termination fees or notice requirements. Once your contract is nearing its end, compare offers from different suppliers to find the best deal. Notify your current supplier of your decision when it is time to switch and finalise the new contract with your chosen supplier.
How NFU Energy can help: NFU Energy assists by comparing rates from multiple suppliers and finding the best deal for when your contract ends. We guide you through the process, ensuring you are prepared for a smooth transition at the end of your current contract, and manage the switch to minimise disruptions in your energy supply.
Contact us:
To take advantage of our expertise and secure the best deal on your energy contract, simply reach out to our team at [email protected] or call 024 7669 8885. Share your current contract details or any specific questions you have, and we will handle the rest. Our team will provide you with tailored advice and competitive quotes that could lead to significant savings.