Evergreen business electricity prices is a very misleading term. Evergreen sounds nice, environmentally-friendly, and safe. It’s not. Evergreen business electricity prices are often the highest rates, there is nothing “green” about the term evergreen in this case.
In the UK, businesses frequently sign contracts that set their business electricity prices at a fixed rate. This is popular as it protects businesses from market changes that cause prices for electricity to rise but many of the contracts are evergreen contracts. This means that the contract automatically renews if it is not terminated in writing by the customer during a certain time frame.
Many business electricity suppliers find themselves with customers for life as many business owners don’t bother to terminate their contract with a letter of notice. Some business owners don’t know when the period occurs, others didn’t even bother to read the entire contract. Even those that took the time to read the contract may has been confused by all the jargon.
The most important thing to keep in mind is that evergreen business electricity prices are often very high. No supplier rolls over a contract with prices that are favorable to the customer if they don’t have to. Business electricity customers need to be aware of the terms of their contract, especially what happens at the end of the contract.
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