The following document sets out the terms and conditions of service for Utility Market Watch. Utility Market Watch is a trading name of Steeris Holdings Ltd. Steeris Holdings Ltd is registered in England and Wales, company number: 11569627. We have set out below the principal terms which come into effect once a customer uses the Utility Market Watch switching service. If you have any further questions about these terms and conditions. or anything else. please contact our Customer Services team who will be more than happy to help you further. Our Customer Services team can be contacted on 03333 601010.
These terms and conditions govern the use of the services Utility Market Watch provides to customers. It’s important that you read these terms and conditions carefully before accepting these terms and conditions. By using the Utility Market Watch service/s you signify that you have read. understood and agree to be bound by these terms and conditions. If you do not agree to these terms – DO NOT use our service.
Utility Market Watch provides a price comparison / switching service to UK businesses.
To be eligible to use this service you must be:
- A business that is resident in the UK;
- Eighteen years or older (if a sole trader);
- Meet the credit scoring requirements of any supplier (if applicable)
- We reserve the right to refuse to provide our services to any customer at our discretion.
- If the customer agrees to use our services. Utility Market Watch will use its reasonable endeavours to identify, negotiate and secure competitive energy prices. Energy prices are obtained from a panel of energy suppliers using price books provided by suppliers.
- The customer agrees to provide Utility Market Watch with accurate information to allow accurate quotations to be obtained – including estimated or actual usage of energy, contract end dates and other know factors that may influence prices and quotations.
- The provision of a quotation by a supplier via Utility Market Watch does not constitute an offer to the customer and offers will each have their own supplier’s terms and obligations attached.
- If the customer accepts a quotation and a contract is executed between the customer and the supplier, the contract is binding, and the customer will not be permitted to revoke such an acceptance.
- The supplier shall be entitled at any time to refuse to accept a customer’s offer of acceptance at their discretion.
- Utility Market Watch will not be responsible for any delays or failures caused by either the customer, the proposed supplier or any existing supplier in relation to effecting either a transfer of supply or renewal of supply.
- Utility Market Watch makes no guarantees as to either the quality of the service suppliers operates, or the prices obtained at quotation.
- Energy prices fluctuate on a daily basis and whilst we attempt to help secure competitive rates to enable switching or renewal, we cannot guarantee any quote is the cheapest.
- The customer is reminded that ultimately it is their responsibility to validate the accuracy of any quotations presented.
- The customer acknowledges that they are entering into a contract with a supplier for the provision of energy supply and not with Utility Market Watch. The customer agrees that Utility Market Watch is not liable in any way for any dealings, contracts or transactions between the customer and the supplier and that any such transactions, contracts, dealings or payment obligations are the customers responsibility and risk.
- The customer agrees by using the service that Utility Market Watch is an independent energy brokerage and that Utility Market Watch is not instructed by the customer to act as their agent or representative.
- The customer agrees that Utility Market Watch are not responsible for the provision of any supplier services.
Utility Market Watch is remunerated directly by the suppliers and receives a commission for securing and finalising the contract between the customer and the energy supplier. This is usually by way of an uplift that is applied within your unit cost for energy up to a maximum of 5 pence per kilowatt hour dependant on the terms of the contract and consumption.
The cost of Utility Market Watch service is therefore included within the cost of the energy contract that you agree with the supplier. By way of example, we may secure a price for electricity at 32 pence per KWH and apply a 0.3p uplift. The contracted price we would offer would therefore be 32.3p. Our commission would be calculated as 0.3p multiplied by your annual energy consumption and multiplied by the contract term.
Our uplifts depend on the site of contract, length and other factors such as credit risks. Our average uplift is a percentage of your total energy cost. Because we get paid by suppliers, we only offer prices from those suppliers on our panel. Our panel currently consists of over 90% of the UK business energy suppliers (by customer numbers) so we have a very wide range to price from.
Duplicate contract fees
Where the customer enters into a contract with a supplier and uses the Utility Market Watch service, this contract must be accepted as legally binding. In the event the customer enters into another contract with another supplier, and the contract facilitated by Utility Market Watch fails to proceed to live status, Utility Market Watch will receive no fee for its services from a supplier and will have incurred time and loss
In those circumstances, Utility Market Watch reserves the right to charge the customer a one off “failed contract” fee of £600 per meter, or the total value of commission we would have earnt on the contract introduction (per meter) – whichever is the higher figure. This is in addition to any charges the supplier may also attempt to recover for the failed contract. It is important that once you have entered into a contract with a supplier that you honour that contract and do not enter into duplicate contracts with other suppliers.
A “Win Back” is where we introduce you back to your incumbent supplier (renew) after beating another price from another supplier you have agreed to move too. By winning back the contract you are effectively cancelling the contract you have agreed to leave your incumbent supplier and renew again with them.
Change of Tenancy Notifications and Fees
Where a customer enters into an energy contract through Utility Market Watch but decides to move premises mid contract the contract will terminate. This is called a “change of tenancy” or “COT”. Utility Market Watch fees are adjusted by supplier if a COT occurs. Its therefore important that you notify Utility Market Watch at least 14 days before the end of your energy contract in the event that you are moving premises and a COT will occur.
Failure to notify Utility Market Watch will incur a fee for the loss / reduction in commission the supplier pays us. In those circumstances, Utility Market Watch reserves the right to charge the customer a one off “failed contract” fee of £600 per meter, or the total value of commission we would have earnt on the contract introduction (per meter) – whichever is the higher figure. Utility Market Watch will discount the percentage of the contract that’s been fulfilled from the failed contract fee.
Failure to go live
If a contract fails to go live (commence supply) due to the customer failing to provide us with information or documentation requested by either us or the supplier, or through a failure of a supplier / supplier refusing to accept supply, Utility Market Watch reserves the right to charge the customer a one off fee of £600. Critical information required, but not limited too includes – signed letters of authority, current supplier information, meter numbers, contract start or end dates, termination notifications, supplier ceasing to trade / onboard contracts and banking details including setting up direct debits or standing orders with a new supplier.
Failure of a supplier
If your current supplier fails, and you enter a supplier of last resort (SOLR), Utility Market Watch fees may not be paid by the supplier that fails. In those circumstances we will charge a fee of £600 (if our fees are not already paid by more than 80%) to cover our lost fees incurred. We may at our discretion agree to waive those fees if the customer instructs Utility Market Watch to introduce another supplier to take over their SOLR contract.
Auto Renew
If you have provided us with delegated authority (DA) to renew your energy contract on your behalf, our Auto Renewal terms and conditions also apply and are binding.
Complaints Procedure
We are committed to you, to treat you fairly and in line with our internal values; with honesty, consistency, respect and accountability. We will ensure that your calls and emails are responded to in a timely manner and that all communication from us is easy to understand.
If you’re unhappy with the service you have received from Utility Market Watch, let us know and we’ll investigate it.
Our obligation is to address your concerns in a timely, sympathetic and effective manner.
You can register any dissatisfaction by:
Email: complaints@utilitymarketwatch.com
Phone: 03333 601010 (lines open between 9am & 5.00pm Monday to Friday)
Post:
Complaints
Utility Market Watch
39B Highmeres Road
Leicester
LE4 9LZ
Once we receive your feedback we are committed to reviewing your comments and acknowledging them within three days. We aim to resolve your concerns within ten days of receipt. If further investigation is required we will ensure that you are made aware of the possibility of a delay.
We will always do our best to find a satisfactory solution to your complaint, however if after contacting us, we have not been able to resolve your complaint within a maximum period of eight weeks or if there is a deadlock situation, you may refer your complaint to the Ombudsman Service, free of charge.
A deadlock situation will be when we confirm in writing to you that we believe we have done everything we can to resolve your complaint but are still unable to reach an agreement that is satisfactory for you.
Ombudsman Service will consider the matter in the event of a deadlock situation or where the complaint is unresolved after 8 weeks between you and Utility Market Watch.
Ombudsman Service is an independent and impartial dispute resolution service. When your complaint is handled by the Ombudsman Service, an independent person will review your complaint and make a decision about how it should be settled.
You may contact the Ombudsman in any of the following ways:
Website: www.ombudsman-services.org
Phone: 03304 401624
Email: enquiry@ombudsman-services.org
Post: Ombudsman Services: Energy, P.O. Box 966, Warrington, WA4 9DF