Business Electricity & Gas from Extra Energy
Extra Energy is a new entrant supplier in the UK.
However they are part of the group that owns Extra Energie in Germany. Extra Energie claim to have delivered savings for nearly 1 million domestic and business customers across the German regions.
Extra Holding, the group company, is run by Moti Ben-Moshe, an inspirational entrepreneur whose background covers software engineering, telecoms, private equity and now energy. Mr Ben-Moshe has set his target of turning the current Big 6 into the Big 7 with aggressive growth plans for Extra Energy in the UK.
The Extra Energy Checklist
Security
- Are their prices fully fixed? No, allows pass through of changes to third party costs
- Do they include metering and transportation costs in the price? Yes
- Do they include FIT and RO and CFD in the price? Does not include CFD
- What is their back billing policy? Anything up to six years
- Do they require a letter of authority? Yes
- Does the contract lapse on change of tenancy? Yes
Transparency
- Is your contract end date on the invoice? Yes
- Is your termination date on the invoice? Yes
- When will your renewal letter arrive? 120 days before end date
- When do you need to terminate? 90 days before contract end
- Do they require termination letter by recorded delivery? Yes
- Will they rollover your contract? Yes
- How high are the out of contract rates? 25.00p/kWh for electricity and 6.26p/kWh for gas
Convenience
- Do they mandate Direct Debit payment terms? Yes
- What are their Direct Debit terms? Variable, Quarterly
- Do they offer Cash / Cheque payment terms? No
- Do they support reduced rate VAT declaration? Yes
- Do they bill monthly or quarterly? Quarterly
- Do they provide online billing? Yes
Services
- Do they install smart meters as part of the supply contract? No
- Do they support existing smart meters with full functionality? No
- Do they provide New Connection & Upgrade Services? No
- Do they support IGT meters? Yes
- Do they support all electricity profiles including half hourly? Yes
- Do they support related and aggregated meters? Aggregated but not related
Environmental
- Do they offer green and renewable products? No
- What is their Fuel Mix? Not eligible for disclosure in latest period
Other things to know about Extra Energy
The Birmingham based business:- Offers 1-3 year contracts for both electricity and gas.
- Will consider low credit customers however focus mostly on those with a Delphi score in excess of 22;
- Will supply electricity and gas to premises of any size
Security
Click on the following link to access Extra Energy’s latest contract terms for business energy customers: Extra Energy T&C’s Are Extra Energy contracts fully fixed? No, all elements of the Extra Energy price can be passed through. This means that when you agree a contract with Extra Energy the price can change through the contract term to reflect additional costs. *Extra Energy’s contracts however do not contain CFD regardless of the contract option. This is charged on top of the agreed contract rates. This means all elements of the price, bar the cost of energy, may be subject to change during the contract.Commodity: Inclusive, Fixed Transportation: Inclusive, Variable Metering: Inclusive, Variable FIT: Inclusive, Variable (Electricity only) RO: Inclusive, Variable (Electricity only) CFD: Excluded, Variable (Electricity only)
Extra Energy also reserves the right to amend the terms of the 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.
Back Billing and Extra Energy
Extra Energy is not signed up to the Energy UK Back Billing standards. This means, in common with some other suppliers, Extra Energy, under the Limitations Act, are able to back bill their customers for anything up to 6 years. Many suppliers have voluntarily limited their back billing rights to two years and in some cases a single year. Extra Energy are therefore one of the less amenable suppliers in this area. To find out more visit our Guide to Back billing.Extra Energy and Letters of Authority
In order to act on your behalf in securing your business a great energy deal Extra 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 Extra 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
Extra Energy sends their renewal letter to customers around 120 days in advance of the contract end date. This will contain Extra 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.Terminating with Extra Energy
You are required by Extra Energy to provide written notice at least 90 days before your contract ends of your intent to terminate your contract at the end of its fixed period. For non-micro businesses, you are required by Extra Energy to provide written notice of your intent to terminate your contract in a set 30 day window between 120 and 90 days before your contract ends.Rollover Contracts and Extra Energy
Extra Energy operate a policy of selling auto-rollover contracts. If you fail to terminate your existing contract more than 90 days 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.Terminating but remaining on supply with Extra Energy
If you have provided termination notice to Extra Energy and expressed your intent for freedom of movement at contract end but you fail to leave Extra Energy’s supply you will be placed on Extra 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.Extra Energy and Out of Contract Rates
An Extra Energy customer could be required to pay 25p/kWh for each unit of electricity used whilst out of contract and a standing charge in the region of £1 a day. For gas customers this would be 6.26p/kWh and 121.7p/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
Extra Energy operate a policy of billing their customers on a quarterly basis. Extra Energy operate a Monthly, Variable Direct Debit meaning the amount you pay directly relates to the volume of energy you consume each month. Extra Energy does not offer cash/cheque payment terms. To find out more visit our Guide to Supplier Payment Terms Extra Energy provide online billing functionality as standard within all of their contracts meaning the end of paper invoices for their customers whilst providing convenient access to their account data.Services
Extra Energy and Smart Meters
Extra Energy do not install smart meters as part of their supply contract and neither do they support existing smart meter installations. To find out which suppliers meet your smart metering needs call us on 0800 051 5770. Go one step better and by appointing Business Juice to manage your energy contracts you can take advantage of our smart meter offers. For more information on Suppliers’ policies on smart metering visit our Guide to Suppliers & Smart Meters.Extra Energy & New Connections and Upgrade services
Extra Energy do not offer customers new connections and upgrade services. To find out which suppliers meet your connections needs call us on 0800 051 5770. Go one step better and by appointing Business Juice to manage your energy contracts you can take advantage of our management fee free new connections and upgrades offer.Extra Energy & IGT Meters
Extra Energy support meters supplied via IGT networks (Independent Gas Transporter). If your gas supply is delivered via an IGT network then unlike some suppliers Extra Energy can offer you a gas supply contract. However the meter will require a bespoke priced gas supply contract.Extra Energy & Supporting Meter Types
Extra Energy support all meter types including Half Hourly (HH), Maximum Demand (MD), Seasonal Time of Day (STOD) and standard profile meters however they do not support ‘related’ or aggregated meters.Environmental
Extra Energy currently do not offer any green or renewable specific business tariffs. For the reporting period 2013/14, Extra Energy have not published their Fuel Mix as they were not operating for the full disclosure period. Over the same period however the national average was:- Coal: 34.0%
- Gas: 25.6%
- Nuclear: 21.6%
- Renewable: 16.7%
- Other sources: 2.1%