MY BUSINESS IS MOVING PREMISES!
WHAT DO I DO WITH OUR BUSINESS ELECTRICITY & GAS CONTRACTS?
Engaging in energy contracts is one of the best strategies to ensure your business operates with reasonable costs. However, as your business grows, it is widespread for you to move premises. There are various reasons why companies need to move. The premises may be too big or too small for your operations. It could be because the lease has expired and you need a bigger office space because of your business expansion. Another reason is that you may require a smaller area to minimise operational costs.
When moving your business or selling your business to another entity, the process can be challenging to manage. You need to organise the removal and retrieval of your items to the new site. Also, you have to arrange for the disconnection and reconnection of your utilities at your old site.
Things can be more challenging if you still have your electricity and gas account under contract with your energy providers. In that case, you may always be liable for some contractual obligations with them regarding your energy contracts. This article breaks down the things you need to do with your energy contracts before and after the moving process.
Here are things you have to do when your business is moving premises regarding your energy contracts.
Dealing with Your Energy Contracts Before the Moving
Before you move, there are several things to preface, such as:
- Please contact your current electricity and gas providers to explain your plan. You have to inform them at the very least 20 days before moving. The energy providers will then advise you for the documents you need to prepare and then proceed.
- If you are still in a contract, you have to advise your provider within 20 days of moving. This notification enables your energy providers to get the last meter readings done and send it to you for payment.
- In case another entity takes over the new premises, you are to notify the electricity and gas providers. The information needed such as the name, contact details and the date they will be moving in. Some electricity and gas providers also have a form that you have to fill in and return to them.
- If you sell your business or property, all of the above applies. The sooner you advise the provider, the easier it is for yourself. The business energy contracts will then set in the new owner’s name, and you are not liable for future costs.
- If someone else will be leasing the site, in the agreement, there have to be clauses where you can negotiate the new business to take over your contract. You will still have to contact your provider, and they will determine if the energy contract may be assigned to the new company or not.
Are you a business owner who is considering or in the process of moving your premises? Please speak to one of our energy specialists who help with energy-matter on 08 6460 1613.
Fees that might be involved in the process
If you do not contact the Current energy provider, you could be liable for the New Tenants’ Energy Consumption. You don’t want to pay for energy you did not use. If you are moving premises, the expected cost that you are going to incur are such follows:
- Early Termination Fees
This fee applies to business electricity and gas customers who sign a contract for a specified period and plan to terminate before the end of the term. You need to contact your current retailer to find out if your contract has termination fees.
- Disconnection fees
Disconnection fees are charged by the Network, not by the Energy provider.
When you terminate your contract, the distributor can charge a disconnection fee to your energy retailer. The cost will be passed on to you.
Your Energy Providers and the Site
As a new customer in your new premises, you have several options at hand whether to continue to use the service from your existing energy provider or switch to a new one.
- Suppose you move to new premises and plan to continue with your current energy provider. In that case, you do not want to cancel your plan right away. You need to contact your current energy provider to let them know that you’re going to move to a new premise. You’re likely to be able to coordinate disconnection and reconnection. However, some payments might be involved.
The details your energy providers might need are as follows:
a. Your new premises address and if possible the NMI or Meter Number.
b. The date you need your energy to be reconnected in the new premises
c. Your contact number and ID (usually one form of ID).
- Suppose you move to new premises and plan to switch to a new energy provider. In that case, that is a very accommodating option. Most businesses are contestable customers that can freely choose a preferred energy provider. With many energy retailers competing on offering deals tailored to the business needs and various competitive plans and rates to choose from, it will surely benefit your business. From finding a more flexible strategy to get a lower rate, switching energy retailers helps your company. However, seeking the best offer available for your business involves calling as many electricity and gas providers possible and comparing quotes, terms and conditions.
Carbon Energy can Simplify Your Moving Process
Moving to new business premises is a thrilling and promising move for your company. But with many items to set up, it’s bound to be a challenging time. Carbon Energy will gladly help your company manage your business electricity and gas accounts during your moving process. We are just a phone call away.
An Energy Consultant or Energy Broker such as Carbon Energy can help with all of this for you and advise whom to call at any provider. Unfortunately, we cannot do the transfers of your energy account as they are in your name. Still, we can help and advise you to make the transition easier.