Frequently Asked Questions for Business Gas and Electricity
Business energy can be a minefield and confusing at times. We answer a series of common questions which might help you understand the complex business energy market.
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How do The National Energy Hub earn their money?
As part of our transparent values in the way we run our business, we feel customers should know exactly how we are paid for each energy deal we facilitate for businesses. We are paid the same fee from each business energy supplier which helps us to remain impartial when searching the market on your behalf.
| Gas & Electricity Commission Disclosure | |
|---|---|
| Estimated Annual Consumption | Rate Per Meter Per Year (Excl VAT) |
| EAC <=15,000 kWh | £75 |
| EAC > 15,000 kWh < 30,000 kWh | £150 |
| EAC > 30,000 kWh | £250 |
What is a Letter of Authority (LOA)?
A letter of Authority is a simple document that provides authority to The National Energy Hub to act on your behalf for the purpose of liaising with energy suppliers to ensure your switch runs as smoothly as possible.
How early can I renew my business energy contract?
It all depends on the energy supplier and how far in advance they can price. Some businesses arrange their energy renewal more than a year in advance and others leave it until the last minute. The main consideration should always be the position of the wholesale energy market, if it’s favourable, that is the time to act, not the typical ‘6 months before your renewal’ date.
The best way to find out the current position of the wholesale energy market is to speak with one of our energy experts: hello@thenationalenergyhub.co.uk or 0330 111 1432.
Who are the 'Big Six' energy suppliers?
Is there a cooling off period with a business energy contract?
Unfortunately as a general rule of thumb, business energy suppliers do not operate a cooling off period when agreeing contracts with customers. This is because suppliers forecast and buy the energy they supply to businesses based on the business’ unique usage requirements. Be sure the energy deal you find is the most suitable one for your business.
Why are long term energy contracts more expensive than short term?
When suppliers provide quotations they build a risk premium into your energy rates. The longer the contract is fixed for, the larger the risk premium is. This is for forecasting the energy market and non energy rates that ultimately make up your unit rates and standing charges. This provides protection on your energy contract so suppliers can easily forecast, provide a fixed energy rate without the need to pass on energy charges that are subject to change every year.