Business Gas & Electricity from Corona Energy
Corona Energy, owned by the Australian Macquarie Group positions itself as the “leading commercial energy supplier to British based businesses” specialising in public sector contracts.
The management of such complex contracts has stood them in good stead as they’ve built their private sector portfolio.
The Corona Energy Checklist
Security
- Are their prices fully fixed? Offer both fully fixed and pass-through products
- Do they include metering and transportation costs in the price? Yes
- Do they include FIT and RO and CFD in the price? CFD is not currently included
- What is their back billing policy? Limited to 5 years for gas, 2 for electricity
- Do they require a letter of authority? Yes
- Does the contract lapse on change of tenancy? Yes however a termination fee may apply
Transparency
- Is your contract end date on the invoice? Awaiting Confirmation from Corona Energy
- Is your termination date on the invoice? Awaiting Confirmation from Corona Energy
- When will your renewal letter arrive? 90 days before end date
- When do you need to terminate? At least 60 days before end date
- Do they require termination letter by recorded delivery? Yes
- Will they rollover your contract? Yes
- How high are the out of contract rates? 5.5p/kWh for gas customers
Convenience
- Do they mandate Direct Debit payment terms? Awaiting Confirmation from Corona Energy
- What are their Direct Debit terms? Awaiting Confirmation from Corona Energy
- Do they offer Cash / Cheque payment terms? Awaiting Confirmation from Corona Energy
- Do they support reduced rate VAT declaration? Yes
- Do they bill monthly or quarterly? Monthly
- Do they provide online billing? Awaiting Confirmation from Corona Energy
Services
- Do they install smart meters as part of the supply contract? Yes for all SME customers
- Do they support existing smart meters with full functionality? Awaiting Confirmation from Corona Energy
- Do they provide New Connection & Upgrade Services? Awaiting Confirmation from Corona Energy
- Do they support IGT meters? Awaiting Confirmation from Corona Energy
- Do they support all electricity profiles including half hourly? Support HH meters below 120 kVA
- Do they support related and aggregated meters? Awaiting Confirmation from Corona Energy
Environmental
- Do they offer green and renewable products? No
- What is their Fuel Mix? Awaiting Confirmation from Corona Energy
Other things to know about Corona Energy:
The Watford based business:- Provides an Automated Meter Reading (AMR) service, which means there’s no need to give meter readings, you always get accurate bills and can manage your gas usage online;
Security
- Corona Energy’s contract terms for business gas customers: Corona Energy Gas T&C’s
- And for business electricity customers: Corona Energy Electricity T&C’s
SME Fully Fixed
Commodity: Inclusive, Fixed Transportation: Inclusive, Fixed Metering: Inclusive, Fixed FIT: Inclusive, Fixed (Electricity only) RO: Inclusive, Fixed (Electricity only) CFD: Excluded, Fixed (Electricity only)
In contrast SME Fixed adopts a policy of fixing only the energy (commodity) element of the price. This means that when you agree an SME Fixed contract with Corona Energy the price can change through the contract term to reflect additional costs.SME Fixed
Commodity: Inclusive, Fixed Transportation: Inclusive, Variable Metering: Inclusive, Variable FIT: Inclusive, Variable (Electricity only) RO: Inclusive, Variable (Electricity only) CFD: Excluded, Variable (Electricity only)
*Corona Energy’s contracts however do not contain CFD regardless of the contract option. This is charged on top of the agreed contract rates. Corona Energy also reserves the right to amend the terms of their contract in exceptional circumstances. These include:- Where a change in law occurs affecting delivery of the contract.
- Where the customer fails to fulfil their obligations under the contract.
- Where gas customers fail to use the stated consumption under the terms of the contract.
- Where the installed metering system changes.
Back billing and Corona Energy
Corona Energy is signed up to the Energy UK Back Billing standards. Corona limits its maximum period for back billing to between four and five years for gas and three years for electricity. Many suppliers have voluntarily limited their back billing rights to two years and in some cases a single year However equally a number of suppliers are not signed up to the Energy UK Back Billing standards and therefore, under the Limitations Act, are able to back bill their customers for anything up to 6 years. Corona Energy are therefore one of the less amenable suppliers in this area making a smart meter a sensible choice with Corona. To find out more visit our Guide to Back billing.Corona Energy and Letters of Authority
In order to act on your behalf in securing your business a great energy deal Corona Energy require us to have a signed Letter of Authority from yourselves.eSign – Fast, Convenient Online Approval
The fastest way to authorise us to work on your energy supply arrangements is to use our eSign service to agree our Evergreen Letter of Authority. We’ll take care of all correspondence, handle all the loose ends and enable you to focus on establishing your business in its new premise. And what’s more once your contract is in place we’ll manage your supplier relationship from beginning to end, all part of the Business Juice service.Change of Tenancy and Corona Energy
Moving into a premise is known as a Change of Tenancy in the business energy market. It has also been termed a Change of Occupier or is known by its acronyms CoT and COO. However it is referred to, the opportunities it opens up are the same. This is great news for deal seekers. Whilst the existing supplier is obliged to continue to provide energy to the new occupier, the occupier is not obliged to take out an extended contract with that supplier. Indeed a Change of Tenancy customer has total freedom of movement and is free to accept a contract with a supplier of their choice There are however of course a number of rules and requirements. Firstly, as the new occupier, if you use energy you will need to pay for it, regardless of your contractual status. Secondly, you will need to identify as quickly as possible the identity of the existing supplier Thirdly, you will need to field calls from sales organisations and the existing supplier themselves offering you contracts of varying lengths to continue or to begin to supply the premises. As a result as a new occupier you will need to agree a new contract either with the existing supplier or with a new supplier of your choice. Not only that but you will need to inform the existing supplier as quickly as possible that you are the new tenant to prevent you being held liable for charges incurred by the previous occupier should they not have ended their agreement satisfactory. It can prove a real headache knowing whom to trust – whether it’s the old tenant, the landlord the current supplier, the pushy salesman ringing, knocking and emailing, the prospective new suppliers. That’s where Business Juice comes in, by working on your behalf, identifying your existing supply arrangements, reporting your change of tenancy, ensuring you are not held liable for costs not incurred before your occupation and benchmarking contracts for your selection we can help you save time, money and a whole lot of stress.Transparency
Corona Energy sends their renewal letter to customers around 90 days in advance of the contract end date. This will contain Corona Energy‘s proposal for your rates for the coming period. It may provide a variety of options or a single price. It will however not be the most competitive price available in the market as the renewal letter is designed for customers who don’t use an energy broker and as such are priced at a higher level than can be obtained in the market. If you have a Corona Energy invoice and are in doubt feel free to fax us your bill on 0845 387 5701 or send it to hello@businessjuice.co.uk and we will help.Terminating with Corona Energy
You are required by Corona Energy to provide written notice at least <two months before your contract ends of your intent to terminate your contract at the end of its fixed period.Rollover contracts and Corona Energy
Corona Energy operate a policy of selling auto-rollover contracts. If you fail to terminate your existing contract more than 2 months ahead of your contract end date you will be rolled over for a fixed term of 12 months. By using Business Juice you can avoid the costly mistake of falling into the rollover trap and paying premium rates for 12 months. To find out more visit our Guide to Rollover Contracts.Terminating but remaining on supply with Corona Energy
If you have provided termination notice to Corona Energy and expressed your intent for freedom of movement at contract end but you fail to leave Corona Energy’s supply you will be placed on Corona Energy’s out of contract rates. Don’t be caught out! By using Business Juice to manage your energy contracts we will terminate and manage your new contract seamlessly to ensure you avoid penalty rates.Corona Energy and Out of Contract Rates
As at their release date of 1st April 2013, a Corona Energy gas customer will be required to pay 5.5p/kWh for each unit of gas used whilst out of contract and a standing charge of 270.00p/day. Even one week exposed to this level of charges mounts up, that’s why clients taking our contract life management service makes sense: removing your exposure risk and letting you focus on your business confident in the knowledge that your energy contracts are in safe hands. To find out more visit our Guide to Out of Contract RatesConvenience
Corona Energy operate a policy of billing their customers on a monthly basis. Corona Energy do not currently offer their customers online billing. This means Corona Energy customers will continue to receive paper invoices. If you have a Corona Energy invoice and are in doubt feel free to fax us your bill on 0845 387 5701 or send it to hello@businessjuice.co.uk and we will help.Services
Corona Energy and Smart Meters
Corona Energy include AMR installation and access to their energy service portal within all of their contracts meaning the end of estimated bills as well as providing the foundation for a more energy efficient business. For more information on Suppliers’ policies on smart metering visit our Guide to Suppliers & Smart Meters.Environmental
Corona Energy do not currently provide renewable or green energy products within their portfolio. To find out which suppliers meet your green and renewable needs call us on 0800 051 5770. For the reporting period 2013/14, Corona Energy did not disclose their Fuel Mix, however over the same period the national average was:- Coal: 34.0%
- Gas: 25.6%
- Nuclear: 21.6%
- Renewable: 16.7%
- Other sources: 2.1%