Beware: Sneaky Supplier Tolerance Penalties!
Out-Of-Contract Utilities?
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Amidst the complexities of energy contract renewals, there's a hidden pitfall becoming increasingly more common which businesses must be wary of – energy supplier tolerance penalties...
Many energy contracts now include tolerance fees for over or under consumption of energy usage, which may seem like a minor detail, but can lead to significant financial consequences if not carefully considered.
These tolerances essentially dictate the allowable variance between the contracted energy usage and the actual consumption, and deviation outside of this range can result in costly fines!
To avoid falling victim to these charges, it is imperative for businesses to approach energy contract renewals with precision and accuracy.
One crucial step in this process is obtaining quotes based on actual usage data from the past 12 months, as relying solely on estimated figures can be a recipe for disaster.
It is worth noting that energy brokers will often prioritise their own interests over those of businesses they represent, by Inflating usage amounts to secure higher commission payments for themselves.
While another variable to navigate are the varying tolerances written into contracts by suppliers, which can range from 0% up-to 30%.
In conclusion, businesses must remain vigilant when it comes to energy contract renewals, paying close attention to advice from third parties, accurate usage data, and supplier tolerance percentages to avoiding paying unnecessary penalties.
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