Contracts and renewal
When should we renew a business energy contract?
How early should we start looking at our next energy contract?
Start preparing well before the current contract ends, but separate preparation from commitment. First confirm every end date, notice requirement, site and supply point. Then decide when to test the market in light of your organisation's risk appetite. There is no universally correct month to sign: an early quote may create budget certainty, while waiting leaves more exposure to later prices.
Written by Energy Guide editorial team · Specialist review: Pending · Source checked:
Start with the contract, not a sales call
Record the contracted end date, termination or notice terms, renewal provisions and the earliest date on which the supplier or broker can arrange a replacement. Check the signed contract and supplier records rather than relying only on a diary reminder.
A broker may approach you many months before renewal. That can be a useful prompt to prepare, but it does not by itself show that signing now is best.
Prepare a reliable buying pack
Good preparation makes later quotations easier to compare and reduces the risk of a site being missed.
- Legal customer name for every contract
- MPAN or MPRN for every supply point
- Contract end dates and notice requirements
- Recent annual consumption and interval data where available
- Known openings, closures or operational changes
- Internal approval timetable and authority to sign
Choose certainty consciously
Buying early can fix a known price and support budgeting. Waiting may preserve access to later market movements but also preserves price risk. Ask advisers to explain the trade-off, the quotation validity period and what has changed since any earlier recommendation.
Sources
These sources support the explanation above. Check the linked source for current rules and eligibility.