EDF Energy has launched a new automatic rollover contract with no exit fees for small business customers.
The power supplier said small businesses that do not contact the company at the end of their contract will now have their prices frozen for a year but will have the freedom to leave anytime without paying a penalty if they find a better deal.
Whilst British Gas, SSE and npower recently announced plans to end energy contract rollovers altogether, EDF Energy claims its new initiative “goes further” by offering its business customers the “best of both worlds”.
Richard Hughes, Director of small and medium business at EDF Energy said: “Customers who do not contact us before their contract end will be moved onto our Easy Fix tariff, which will freeze their prices for a year but comes without exit fees.
“We believe this truly meets the needs of small and medium business customers – and underlines our commitment to offering innovative, bold products which put our customers in the driving seat.”
The Federation of Small Businesses welcomed the move. John Allan, the National Chairman said: “One in four FSB members have been locked into contracts with un-negotiated price increases… It is good news that EDF plan to introduce a tariff for out-of-contract small firms that freezes prices for a year.
“We now want to see the Big Six to go one step further and publish small business energy tariffs so that SMEs can easily compare one supplier’s price to another without having to contact different suppliers or rely on an energy broker.”