• 18% of smaller businesses have been ‘locked-in’ to a fixed-term contract without their permission (and a further 16% are unsure if they have)
• more than 30% of small businesses have been shunted onto a ‘deemed contract’, leaving them paying up to 80% more
• Over half of small business do not understand their energy contract
• 1.3 million businesses do not know how to terminate their energy contract
Businesses are being rolled over and locked into energy contracts without their permission, a study by SwitchMyBusiness.com has found, alongside a catalogue of other issues.
According to the SwitchMyBusiness.com research, 18.4% of businesses have been automatically rolled over onto a new contract without their permission and a further 16% don’t know whether they have been a victim of auto-renewal.
The study comes in the wake of the Competition and Markets Authority (CMA) report which found that UK SMEs are unnecessarily losing...