No, they don’t. Microbusinesses have greater freedom and flexibility when it comes to being able to switch business gas and electricity suppliers.
If you run one of the UK’s 5.3 million microbusinesses, you can arrange a new energy deal while you still have more than 30 days remaining on your existing fixed-term contract.
Rollover contracts cannot exceed 12 months and microbusinesses can terminate them at any time – without being required to serve notice or face a termination fee.
Unsure of when your contract is due to expire? Don’t worry – your supplier is required to inform you around 60 days before the expiry date with information around about annual consumption and how your current deal compares with any new deals they offer.
How do you know if your business is a microbusiness?
Microbusinesses are those that:
• use less than 100,000 kWh (kilowatt hours) of electricity a year
• use less than 293,000 kWh of gas
• have less than 10 employees, a yearly turnover of £632,000 or less, and a yearly balance sheet of £316,000 or less (at least two of these conditions must be met).