As a result of Ofgems New Standards of Conduct for energy suppliers that came into force on the 26th August 2013 the rules regarding contract rollovers are changing.
One of the big six energy suppliers EDF Energy has launched an automatic rollover contract, with no exit fees for small and medium businesses (SME’s). If small businesses do not contact the company at the end of their contract, their prices will be frozen for a year but they also have the freedom to leave at any point without paying a penalty if they find a better deal.
Other energy companies such as British Gas, npower and SSE have announced plans to end this contract rollover policy completely but EDF Energy has claimed that keeping this will enable customers to have the best of both worlds.
The Director of the SME’s at EDF Energy, Richard Hughes has stated “We believe this truly meets the needs of small and medium business customers – and underlines our commitment to offering innovative, bold products which put our customers in the driving seat.”
In light to EDF Energy launching this rollover contract, Scottish Power have decided to stop offering the automatic rollover contract completely from April 2014 and to existing customers later in 2014.The news of Scottish Power’s decision has come after Ofgem launched its new code of conduct ensuring suppliers treat their customers fairly.
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