- Publication date
- 29th July 2015
- Information types
- Policy areas
This factsheet explains our new rules to simplify the contract renewal process for Micro business consumeropen key term pop-up. These will make it easier for customers to compare prices and find a better deal for their energy at the end of a fixed-term contract.
Since 30 April 2015:
- the maximum notice period for terminating a micro-business contract has been reduced from 90 to 30 days;
- suppliers must include the current prices, new prices and annual consumption on renewal letters for fixed-term contracts to make comparisons easier; and
- suppliers must take all reasonable steps to acknowledge termination notice within five working days of receipt.
Micro business consumer
A non-domestic consumer is defined as a micro business if they meet one of the following criteria:
- employs fewer than 10 employees (or their full time equivalent) and has an annual turnover or balance sheet no greater than €2 million; or
- uses no more than 100,000 kWh of electricity per year; or
- uses no more than 293,000 kWh of gas per year.
A business using 100,000 kWh of electricity or 293,000 kWh of gas should typically pay around £10,000 - £12... more