At AquaSwitch, we help companies find and switch to the best business energy tariffs available from across the market.
If you want to take advantage of one of our quotes, our commercial energy experts will help you with the energy switch from start to finish.
Our team knows the common pitfalls of the switching process and is there to help at every step of the way.
In this guide, we walk you through the process of switching business energy suppliers from start to finish.
Step one: Request a business energy comparison report
AquaSwitch offers a free, no-obligation business energy comparison service. Our team will collect quotes tailored to your business with a few necessary details about the energy supply to your commercial properties.
The details we need to collect quotes are:
- Business name and address using our smart postcode finder.
- Your MPAN for electricity supply; or
- Your MPRN for gas supply
- Your current supplier
- Your current contract end date (if applicable)
- Your estimated annual consumption in kWh
We’ll ask you for your contact details so we can send your comparison report; we’ll usually be able to do this within a few hours.
Step two: Choose your business energy tariff
Our business energy comparison report will clearly show the best options available from our panel of trusted suppliers.
Should you decide that you can benefit from one of our tariffs, let our customer team know, and we’ll kick off the switching process.
Step three: Review and sign your business energy contract
Our customer team work with your chosen supplier to prepare and send you your business energy contract. The paperwork we send across will include two documents:
Your business energy contract
The exact form of the contract varies depending on your chosen supplier, but as a minimum will include:
i. Your meter point details
ii. Agreed contract term
iii. Agreed standing charges
iv. Agreed unit charges
v. Estimated annual consumption
vi. Proposed start date
vii. Terms and conditions
Once you’ve reviewed and you’re happy with the contract, you’ll need to let us know:
i. Details required for credit check:
- Registered company number (if applicable)
- Full name (if a sole trader)
- Home Address (if a sole trader)
- Date of birth (if a sole trader)
ii. Details to set up your direct debit mandate:
- Account name
- Bank name
- Sort code
- Account number
Once you’ve completed your details on our digital form, simply submit an e-signature, and your completed documents will be shared with our team.
It’s worth remembering that business energy suppliers generally do not have a cooling-off period in their terms and conditions. We recommend reviewing your paperwork thoroughly and talking to our energy experts if you have any concerns.
Our Letter of Authority (LOA)
A letter of authority is a legal document always required when using a business energy broker. The AquaSwitch LOA gives us permission to:
- Request and obtain energy industry-held data about your property.
- Submit your contract with your chosen business energy supplier.
- Communicate with your current business energy supplier on your behalf.
- Resolve any objections arising in the switching process.
Step four: AquaSwitch review and soft credit check
Once we’ve received your signed onboarding agreement, our energy experts will review your contract to ensure all the information is accurate. Our review helps to ensure your new supplier will accept the contract.
We’ll also run a soft credit check with the information you’ve provided so that we can ensure that your application will meet the credit requirements of your chosen supplier.
Step five: Your new supplier will review your signed documents
We’ll send your new supplier your signed documents, who will do their own set of checks. The most crucial check at this stage is the hard credit check.
The main difference between a hard and soft credit check is that a soft credit check doesn’t leave a visible record on your credit file. The hard credit check performed by your new supplier is a more in-depth analysis of your company or sole trader’s credit history.
If there are issues with your credit at this stage, our in-house business experts will work with you and your new supplier to find a resolution.
Step six: The switch process takes place behind the scenes
Once your new supplier has accepted your documents, they will kick off the process of switching. This process usually takes between 3 and 6 weeks if you’ve requested an ‘as soon as possible’ switch date.
If you’ve requested a switching date at the end of your current contract, then the supplier will request a transfer on this date.
From July 2022, Ofgem, the industry regulator, is enforcing rules designed to reduce the switching time. It is recognised that the standard timeline of up to 6 weeks does not provide a good customer experience.
In the meantime, AquaSwitch will send your current supplier a termination notice to inform them that you are ending your existing contract.
Your AquaSwitch account manager will inform you of the switch’s progress, including letting you know when your new supplier has confirmed the proposed switch date.
Step seven: Your current supplier will analyse your account status
Your current supplier will receive notification of your business energy switch. There are three scenarios where your supplier will be able to object to the proposed transfer, these are:
i. Outstanding debt – If you have unpaid bills with your current supplier, they have the right to refuse the switch.
ii. In-contract status – If you have a fixed period contract with your current supplier, you will not be able to switch suppliers.
iii. You’re not the current account holder – If your business is not registered as the current account holder at the business property, then your supplier can reject your transfer. If you’ve recently moved into a property, AquaSwitch will inform the current supplier of the relevant change in tenancy documents to resolve this objection.
In each objection scenario, our business energy experts will inform you of the issue and help you resolve the issue.
Step eight: Your new supply commences
Our business energy experts will let you know when your new supply commences.
We recommend that you take a closing meter reading on the switching date to let your old supplier know the final reading so they can produce an accurate final bill. Your new supplier will use the same readings to commence their invoicing.
If it’s not possible to take a meter reading on the switching date, your old and new supplier will use the same estimate on the transfer date.
Following the switch, you’ll soon receive:
- A final business energy bill from your old supplier.
- Notification from your new supplier that your contract has commenced.
- Your first bill from your new supplier.
- Notification from AquaSwitch that your switch has been successful.