Energy Procurement T&C’s
The following document sets out the terms and conditions of service for Utility Trade Limited. Once a customer uses Utility Trade’s switching service, the below principal terms come into effect.
Please ensure you read the terms and conditions carefully before using Utility Trade’s services as once you agree to use our services, you signify that you have understood and agree to be legally bound by these.
Utility Trade provide an energy price comparison/switching service to UK businesses. You will be eligible for our service if you;
- Are responsible for a business in the UK
- Meet the credit requirements for energy suppliers
- Are over the age of eighteen
At our discretion, we reserve the right to refuse service to any customer.
Once a customer agrees to use our services, Utility Trade will negotiate and secure competitive energy prices from our panel of suppliers. These prices are obtained by either using price books provided by the supplier or by directly speaking the supplier and gathering a bespoke quotation.
It is the responsibility of the customer to provide Utility Trade with accurate information to ensure accurate quotations to be obtained, these include but are not limited to contract end dates, energy usage, business type etc.
Utility Trade presenting the customer a quotation does not constitute an offer and each offer will have their own terms and conditions from the chosen supplier attached that the customer must agree to.
There is no cooling off period for energy period, and as such once the customer accepts a quotation and a contract is agreed between the customer and the supplier, this is binding, and the customer will not be permitted to revoke the contract. The supplier may refuse to accept the contract at their discretion.
Utility Trade will not be responsible for any delays or failures caused by either the customer, Utility Trade, the proposed supplier or any existing supplier in relation to a transfer of supply or renewal.
Utility Trade can make no guarantee as to the service of the quality of service your chosen supplier provides, or the prices obtained at quotation. Energy prices change daily and fluctuate throughout the day, and whilst we attempt to secure the most competitive rates, we cannot guarantee any quote is the cheapest.
When agreeing a contract through Utility Trade Limited, you agree to the terms and conditions from the supplier you are entering into a contract with. Your chosen supplier may charge you a fee if your contract does not go live with them due to you agreeing another contract with an alternative supplier.
The customer agrees that Utility Trade is an independent energy consultancy, and that Utility Trade is not acting as an agent or representative for the customer.
You agree to your business or sole trader details being credit checked by UTL and the supplier before accepting the contract.
Once signed and accepted by a supplier, that contract becomes legally binding and you should not enter any other contract with another supplier, directly or through another broker or consultancy.
UTL receives commission from the supplier on completion of the contract when it goes live. The commission amount is included in the unit rate of the energy contract you agree with the supplier. Utility Trade’s service is not free, our fee forms part of your energy unit rate.
As an example, if we secure a price of 25 pence per kwh and apply a 0.5 pence uplift, the contracted price we would offer would be 25.5 pence per kwh. Our commission amount of 0.5 pence is then multiplied by your annual consumption and multiplied by the contract term. The commission uplift chosen will depend on various factors like length, credit risk, size of usage and so on.
Utility Trade Limited may choose to induct a penalty charge of £500 should the contract with your chosen supplier not go live due to reasons within your control. If for any reason you become aware that your supply will not go live through Utility Trade, please contact us to discuss what options are available to you. This fee is to cover the loss of commission Utility Trade will endure.
If you have any queries about these terms and conditions, please contact us on 0116 366 7981 or email [email protected].