Business Energy – Understanding the letter of authority or LOA
You may have seen the term ‘LOA’ or ‘letter of authority’ if you have been researching switching business energy suppliers. It sounds complicated, but a LOA is actually just a document which allows, or authorises, someone else to act on your behalf. Letters of authority set out the acts the named party can carry out for you. They are in a standard form, used across the energy industry.
It is much quicker and easier to switch business energy suppliers by using the specialist service from freepricecompare to act on your behalf rather than dealing with the energy companies yourself. However, you will need a letter of authority to allow us to do this for you. The LOA simply authorises us to contact business energy suppliers on your behalf, taking all the hard work and hassle out of collecting information, comparing and switching business energy supplies.
Once we have your signed letter of authority, we will be able to contact your existing business energy suppliers and also potential new energy suppliers for your business.
You will need to provide the letter of authority set out on your business headed notepaper. It must include your company’s full registered name, company number and registered office, or the required details of the business name and partners if you run your business as a sole trader or partnership. It also needs to include details of your gas and electricity supply references so that the energy suppliers can identify you. The letter will need to be signed by an authorised signatory on behalf of your business and then returned to us.
The letter will set out what we can do on your behalf. Rest assured, we can and will only act within the limits of the letter’s authority.