Welcome to CARA Wales, agricultural and rural consultancy and advice. We offer an individual, unbiased and efficient service to help move your business forward.

Posts Tagged ‘notice period’


Monday, July 21st, 2008

With electricity charges increasing at alarming rates it has never been more important to keep a close eye on your contracts. There are still a significant number of businesses that do not know when their electricity contracts terminate. Many now demand a three month notice period to terminate a contract at the end of its period. Failure to hand in your notice in time results in being locked in with your current supplier for another period at possibly significantly higher charges. Early termination fees will be charged if you leave your provider within a contract. These fees can out way any benefit in cheaper charges offered by another company. The reverse can also be true where another electricity provider can offer deals so much lower that it can mean paying a termination fee available option.


It is recommended that you always shop around for the best deals before your existing contract ends. This invariably means terminating your existing contract. Looking at different electricity contracts and identifying the best deal can be a daunting task. There are many professionals within the market place who will carry out this task for you. This is a burden that we at CARA are more than happy to take off your shoulders.


Many businesses have set up a fixed monthly direct debit. Whilst this makes budgeting easier,  as time goes on the level paid does need to be reviewed. A significant increase in dairy cow numbers for example will result in more units being used and your payments will soon fall into arrears. If you have recently installed/upgraded your milking plant and improved efficiency the reverse is likely to be true and the number of units used reduced.


It is vital that meters are read by your provider or yourselves on a regular basis and the reading passed back to your electricity provider. It is recommended that this is done on a quarterly basis.



                CHECK LISTS

·         When does your contract terminate

·         What are the early termination fees

·         What notice period does your electricity provider require

·         Is your monthly direct debit amount at a sufficient level to cover electricity units used

·         Ensure meters are read at regular intervals



Check your electricity contract today. If you have any queries regarding your electricity contract then contact us at CARA to discuss matters further.