In general- it is known that- you have to switch to get the cheapest energy supplier. But it is not always the case.
You may get a better deal from your current supplier by renewing your current contract with a cheaper price.
If you are in a contract and you are eligible for a renewal, we may offer you a better price with the same supplier. In that case you don’t have to switch supplier.
FAQs About Renewal:
When can I renew my contract?
You can renew your contract 120 days prior to contract end date. It may be possible for you to renew your contract one year in advance if your site is Half Hourly.
When does a supplier send a renewal letter?
Most energy suppliers have their contracts rolling over into a new contract at a certain period before the actual end of the existing contract. It varies from supplier to supplier and is also based on the type of contract. For example: British Gas & Eon send renewal letter 120 days prior to contract end date whereas, N Power send it 90 days prior to contract end date.
Why termination/ renewal are very important?
Energy suppliers have tied most of their customers into roll over contracts, and the contracts can be rolled over into higher rates if no action taken.
Why I should renew my contract?
In order to save on your energy bill and also to ensure the continuation of your energy supply, you should renew your contract.
What if I do not renew my contract?
If you do not renew your contract then the supplier will either put you in an automatic rollover contract or they will charge you out of contract rate. However, both of them generally are very high rate compare to the regular market rate.
My renewal termination window is closed, what I can do?
If you find that your renewal termination windows is closed then contact us.
Why should I renew via Tower Utility rather than renew the contract directly with the supplier?
We work on behalf of customers during the renewal process ensuring they do not find themselves paying massively inflated contract rates for their gas and electric supply for a long period.
In many cases we can offer exclusive deals that are not available directly from the supplier, as we have special business deals with suppliers.
Furthermore, we specialise in obtaining the best available rates in the market for our customers. If we find that the customer can get a better deal from different supplier then we assist our customers in moving from one supplier to the other.