What are the supplier traps and how to avoid them?
All energy contracts with suppliers automatically renew themselves after the initial contract term unless you terminate your agreement with them. The minimum termination notice that the supplier requires normally is between 30 and 120-days before the end of your initial contract. If you do not terminate your contract in a timely manner, your energy contract will be “rolled over” into a new annual contract at an uncompetitive price as the supplier knows you can not move away from them for a minimum of 12-months. Some suppliers terms even allow the supplier to extend this period for up to 24-months.
