Business energy contract renewals

Business energy contract renewals for UK SMEs

Planning a business electricity renewal or reviewing a gas offer? Draco helps you check the end dates and notice requirements, compare available renewal quotes and understand the terms before you agree.

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Before renewal, find these detailsExample document

Contract confirmation

Supplier: Illustrative supplier
Contract term: 12 months
Start date: 1 April 2026
End date: 31 March 2027
Unit rate: 24.0p / kWh
Standing charge: 80p / day
Notice requirements: Check the notice clause: deadline, submission method and recipient

Fictional document; dates and prices are examples, not a quote. Notice requirements depend on your contract. Rates exclude other charges, VAT and CCL.

Our service is free for customersPaid by supplier commission

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Ongoing personal supportHelp before, during and after your contract.

Plan around your contract

Know the dates before comparing the options

Find the end date and notice requirements on your current contract. Then leave time to check the supply details and compare offers. Your supplier’s renewal window may differ from another business’s.

Confirm the end date

Check the contract end date and any notice requirements.

Review each supply

Electricity and gas may have different suppliers, meters and contract dates.

Gather recent details

A recent bill normally shows the usage, meter and payment information needed for a review.

Compare the full terms

Look beyond the unit rate to the standing charge, term, payment conditions and estimated annual cost.

Business energy renewal notice

Check what notice your own contract requires

Keep your contract confirmation and renewal offer together. Check whether you need to give notice, the deadline and how to submit it. Ask the supplier to confirm when the agreement can end. Requirements depend on your contract and the protections that apply to your business.

Keep the supplier’s reply and any notice acknowledgement. Getting a quote or speaking to a broker does not mean a termination notice has been received.

When a contract ends

Understand which terms may apply next

When a fixed contract ends, your supplier may apply out-of-contract rates or continue the supply under variable or rollover terms. Check the existing agreement. A deemed contract is different: it can apply when you take over premises and use energy without agreeing a supply contract.

These terms can be different from an agreed fixed contract. Check the supplier's current rates and the steps required to move to a new agreement.

Read Ofgem's business energy contract guidance

Compare annual cost

A lower unit rate is not always the lower-cost option

The standing charge, expected usage and other applicable charges can change the overall result. Draco compares the available options using the same supply information so the differences are easier to understand.

For restaurants and takeaways, tell us about changes to opening hours, refrigeration or cooking equipment. For shops and offices, check the effect of standing charges as well as unit rates. Use separate consumption figures for each tariff period where relevant, and confirm which taxes, fees and commission are included.

See how Draco compares business energy contracts

For the details of each supply, see our business electricity quotation guide and business gas comparison guide.

Compare the whole cost

How the full cost adds up

Same electricity use: 10,000 kWh over 365 days
Cost item	Option A	Option B
Unit rate	24p/kWh	25p/kWh
Standing charge	80p/day	40p/day
Annual energy cost	£2,400	£2,500
Annual standing charge	£292	£146
Annual total	£2,692	£2,646

A lower unit rate can still mean a higher annual cost.

Illustrative rates, not a quote. Totals exclude VAT and other applicable charges.

How Draco supports your renewal

A clear route from the current bill to your chosen contract

Need us to request information from a supplier? We will explain the limited Letter of Authority first. It lets Draco and our intermediary request contract or meter details, rather than agree a new contract without your approval.

1
Send the current information
Provide a recent bill, renewal letter or contract details.
2
Review and compare
Draco checks the supply and explains available supplier options.
3
Choose with clear terms
Review the price, term and payment details before approval.
4
Stay supported
Draco helps with supplier onboarding and future renewal planning.

Contract renewal FAQs

Questions to answer before the current contract ends

When should I review my business energy contract?

Start once you know the contract end date and any notice requirements. Reviewing early gives you time to confirm the supply details and understand available options without a rushed decision. The exact window depends on the supplier and contract terms.

Can I switch business energy supplier before my contract ends?

Most suppliers will not let a business switch before the current fixed term ends. A future contract may be agreed in advance to begin when the existing contract finishes, subject to the supplier's terms and acceptance.

What happens if my business energy contract expires?

Depending on the existing agreement, the supply may continue on variable, rollover or out-of-contract terms. A deemed contract may instead apply when you move into premises without a formal supply agreement. Ask the supplier to confirm your current status, rates and switching requirements.

Do electricity and gas contracts renew together?

Not necessarily. Electricity and gas normally have separate supply details and may have different suppliers, end dates and renewal terms, even when they are reviewed together.

Is there a cooling-off period for a business energy contract?

Business energy contracts generally do not have a cooling-off period, including agreements made by phone. Review the price, contract length and terms before giving approval.

Does Draco charge me a service fee?

You do not pay Draco a separate consultancy fee. If you arrange a contract through us, Draco and/or our intermediary receive supplier commission. This may be included in the rates or commercial terms offered. Ask us to explain the commission before you approve a contract.

Read all business energy FAQs

Ready to review your business energy?

Send us a recent bill or renewal letter. We will explain the next step in English, Cantonese or Mandarin.

0333 880 5233