EDF has launched a new Small & Medium Enterprises (SME) electricity contract as part of its Customer Commitments. The 'New Start' is the first ever dedicated electricity contract specifically for start-ups. According to EDF, this innovative idea will benefit SMEs that are struggling in this challenging economic climate.
According to the Forum of Private Business, energy costs top the list of small firms’ issues. Wasting time and money on convoluted bills is a constant hiccup. This new style of contract will help these businesses secure competitive electricity rates and discounted standing charges without feeling pressured to get into long-term contracts.
The New Start tariff will allow SME owners to sign up to an agreement of between six and nine months and are free to leave at any point without penalty. Also, when that time is up EDF will give the business owner control over what happens next, and there’s no risk of them being automatically committed to a new contract. This will help SMEs to make an informed decision about how much they need to spend.