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Buying or selling a business is a complicated process. Amidst all of the hustle and bustle, it’s easy to forget about behind-the-scenes business essentials, like your commercial energy plan. Overlooking the transfer of your energy contract to the new owner could lead to unexpected fees or contract termination charges. At Integrity Energy, we understand the importance of a seamless transition. That’s why our expert team is here to guide you through the process in four simple steps, ensuring a smooth transfer of power to the new business owner.

Working with an Energy Broker Simplifies the Process

Commercial energy brokers, like Integrity Energy, have many benefits. Beyond negotiating some of the most competitive commercial energy plans on the market, our team of expert energy brokers provides industry expertise and customer support throughout the duration of your contract. Additionally, our scheduled renewal services help you find your next great energy plan to power the future of your business. 

Our team of energy experts also support energy contract transfers when business owners sell their enterprise. After the seller completes four simple steps, our team takes the reins – contacting energy suppliers and coordinating the transfer with the new owner. If you’ve never had the opportunity to partner with a dedicated energy broker, request a free quote today to discover the lowest commercial energy rates on the market!

Four Steps to Transferring Your Commercial Energy Contract

Selling a business is difficult enough. Let your commercial energy broker take the energy contract transfer off your plate. Our comprehensive transfer process provides you with peace of mind while ensuring the buyer has reliable power on their first day of ownership. 

Follow these steps when selling your business and transferring your energy contract.

1. Provide 30 days notice to your energy broker

The first step in the transfer process is alerting your energy broker. Reach out to your dedicated customer service representative and let them know about the upcoming sale, including the close of sale date. In most cases, we recommend providing 30 days notice to allow your energy broker enough time to complete the transfer.

Integrity Energy customers can provide their 30 day notice to our customer service team by emailing customerservice@integrityenergy.com. Once our team receives your notice, we’ll get to work – contacting your energy supplier and getting the transfer paperwork in order.

2.  Provide your most recent energy bill copy

The next piece of information our customer service team needs is the most recent copy of your energy bill. We use your energy bill to verify account details and your business’s energy consumption. Both pieces of information are essential to complete the transfer agreement. For the proactive seller, you can include your bill in the initial notice email.

3.  Provide the new owner’s contact information

After we’ve verified your account credentials, you’ll need to provide our customer service team with the buyer’s contact information. Providing their name, phone number, and email address ensures that we’re able to get in touch with the new owner to go over the terms of the current energy contract and finalize the transfer agreement. Unfortunately, if we’re unable to contact the new owner, the transfer will be incomplete and you may incur unexpected termination charges.

4.  Let the new owner know Integrity Energy will be in touch  

The final step is to let the new owner know Integrity Energy will be in touch! Make sure that the buyer knows you have an energy contract in place and the business’s energy broker will contact them. Our team will be in touch to go over the contract details, finalize the transfer, and update their account. 

Once you’ve alerted the buyer, our team will take care of the rest! Our team will finalize your transfer, making it official on your close of sale date. You can take comfort knowing that Integrity Energy is taking care of the complicated paperwork and updating your energy supplier. 

Buying a Business? 4 Steps to Transferring the Energy Contract

Integrity Energy wants to make sure your business is powered up for success from day one. Our dedicated energy brokers are here to make transferring the business’s energy plan simple. Below are 4 simple steps to support the transfer process.

When buying a business, follow these 4 easy steps to transfer the commercial energy contract.

1. Communication is Key

Before finalizing the sale of your new business, make sure to ask the original owner whether there is an existing energy contract in place. If there is a contract, they will need to contact their dedicated energy broker or energy supplier to provide 30 days notice of the sale.

2. Contact your utility company

After notice has been provided, the new owner needs to contact their local utility company to update the details for the business’s power and/or gas accounts.

3. Obtain new account numbers 

On the close of sale date, when service is officially transferring over, you’ll receive new account numbers from your utility company. Keep this information handy because it is essential to finalize the transfer agreement.

4. Contact Integrity Energy

If the seller has been proactive in the transfer process, our customer service team will contact you directly to update your account and finalize your energy contract. Otherwise, you will need to contact your energy broker, like Integrity Energy, to finish setting up the updated energy contract.

We are dedicated to providing you a smooth transition to your new business. With our comprehensive contract transfer process, you’ll have no delays or headaches on your first day as owner. On the close of sale date, you can simply flip the switch and receive dependable power. By transferring your energy contract with Integrity Energy, you can rest assured that your new business’s energy needs will be met with expert care.

Let Us Take Care of Your Energy Contract Transfer!

Transitioning your business to new ownership is a complex endeavor. With Integrity Energy, transferring your energy contract doesn’t have to be. Our four-step process simplifies the process, ensuring a seamless transfer of power to the new owner. From providing notice to finalizing the agreement, our expert team handles it all, allowing you to focus on what matters most – selling your business. Let us take care of your energy contract transfer, so you can embark on this new chapter with peace of mind. If you’re in the process of buying or selling a business, contact the energy experts at Integrity Energy for a seamless energy transition.

Frequently Asked Questions (FAQ)

What information do I need to have on-hand to transfer a commercial energy contract?

To initiate a commercial energy plan transfer, please provide your energy broker with a 30 day notice. Include the close of sale date in your communication so they can prepare. Integrity Energy customers can initiate a transfer by emailing: customerservice@integrityenergy.com. After providing notice, you’ll need to share your most recent energy bill, the new owner’s contact information, and our team takes care of the rest!

How can an energy broker help facilitate the transfer process?

Selling a business is complicated enough, let an energy broker take this task off your plate. With an energy broker, there’s no need to contact your energy supplier, organize paperwork, or coordinate with the new owner. We’ll make sure every “i” is dotted and every “t” is crossed, so you can focus on your next great venture.

What happens if I forget to transfer my commercial energy plan?

Unfortunately, if you forget to transfer your energy plan to the new business owner, you may incur unexpected charges or early termination fees. The new business owner will also need to start their energy plan shopping from the beginning. Transferring your commercial energy plan provides a seamless transition to the new owner. 
For more answers to your commercial energy plan questions, please visit our general FAQ page.