Renewal Dates and Avoiding Rollovers
One of the easiest ways small businesses lose money on energy is by missing renewal dates. Suppliers often move customers onto expensive “out of contract” rates if no action is taken. This is known as a rollover. Understanding how renewals work, and how to avoid being caught out, can save your business hundreds of pounds a year.
What Is a Renewal Date?
Your renewal date is the point when your current energy contract ends. Around this time, you have the chance to either agree a new deal with your current supplier or switch to a new one. If you do nothing, you may be rolled onto a higher default rate.
Why Rollovers Cost So Much
Default rates are almost always higher than negotiated contract rates. Suppliers know many small businesses don’t track dates carefully. They make money by charging more once your contract ends. Even if the unit rate only rises by a few pence, over a year it can mean hundreds or even thousands of pounds more on your bill.
How to Stay in Control
- Mark your calendar: As soon as you sign a contract, note the end date in your diary or phone.
- Look ahead: You can usually shop around for a new deal several months before your contract ends. Don’t leave it until the last week.
- Ask for reminders: At Business Energy Solutions, we track your contracts for you and remind you before renewal.
How We Help You Avoid Rollovers
Our service includes keeping track of your contract dates. We send reminders well before your renewal, giving you plenty of time to compare options. We then search the market for better deals and explain the choices clearly. With our help, you never have to worry about being caught by surprise again.
What to Do If You’ve Already Rolled Over
If you’ve already been moved to a higher rate, don’t panic. You can still switch — though it may take time. We’ll check your contract, explain your rights, and help you move as soon as possible to a fairer deal. The sooner you act, the sooner you stop paying more than you should.
Learn More
This page is part of our Understanding Contracts series. For more basics, see Basics of business energy contracts. To explore other ways to cut costs, visit our Green Energy Options section.
Or, to make life simple, let us track your contracts for you. Use our free service today: Check Your Contracts.