This week one of my new clients, taking care of a UK Trust Fund and part of a board was looking for the best deal for their electricity supply. The Fund simply wanted to ensure they were getting a good deal for their tenants.
Firstly, on verifying usage and meter details for the Trust Fund it became apparent that the supply was in the wrong limited company name. You may think this odd but it is an easy mistake to make and happens often.
Having identified that the account was in the name of the Facility Manager and not the Fund it was necessary to have this amended. This is very important, if there should be any sort of disagreement or problem with the account the legal responsibility here would fall with the Facility Manager and not the Fund.
Just change the name, not that simple. A Change of Tenancy is necessary in which proof of occupancy by lease or ownership is required, a process which under normal circumstances can take 4-8 weeks depending upon the supplier. Once this has been completed the supply automatically reverts to out of contract rates, contracts cannot be transferred nor can prices.
A new process begins and each new Customer will be credit checked and vetted before any new contract is agreed by the supplier. An initial offer by the supplier does not guarantee they will accept your business. During the pandemic it has become more common for businesses to agree a contract only to find themselves rejected and abandoned to expensive out of contract prices. Unless a supplier confirms or locks-in your submitted contract, the deal is not yet done.
In an attempt to ensure the best deal the Trust Fund approached the supplier directly to ask for their ‘best prices’. We were informed this had been done, a triumph for all concerned including the tenants. Not quite so, as due diligence the offer was checked and confirmed, during the conversation the sales person had omitted the ‘FiT’ charges, a significant part of the contract.
Utilinet were able to re-quote, including all charges at a lower price. We will manage the supply for the duration of the contract, keeping in regular contact and helping keep costs and administration down.
If your business has been affected by any of these issues, please email dawn@utilinet-yorkshire.co.uk.