Rating Tracker Product Terms

Introduction

These Terms and Conditions govern the agreement between the customer ("Customer") and Jellyfish Energy Limited ("Jellyfish Energy") for the supply of gas and/or electricity under the Larva Rating Tracker product. By entering into this fixed 12-month contract, the Customer agrees to the terms outlined herein and our standard business terms which can be found here: https://jellyfish.energy/policies/business-terms

Contract Duration

1. The contract duration is fixed for a period of 12 months from the date the Customer starts receiving supply from Jellyfish Energy.

Product Description

1. The Larva Rating Tracker is designed to help new businesses with poor or no credit rating build trust and secure better energy rates based on improved ratings during the contract term.

2. The unit rate(s) for the product will dynamically change based on the Customer's rating, which is monitored and adjusted throughout the 12-month term.

Customer Rating System

1. The Customer's rating is determined by the Live Customer Rating Algorithm, which assesses and categorises Customers based on their financial and engagement behaviours.

2. Ratings are classified into the following tiers:

   • 1 Star (Poor): Customer is placed on current deemed rates, viewable at Deemed Rates.

   • 2 Stars (Bronze): Default starting rating with the advertised unit rate.

   • 3 Stars (Silver): 2.50% deduction on unit rates.

   • 4 Stars (Gold): 5.00% deduction on unit rates.

   • 5 Stars (Platinum): 7.50% deduction on unit rates.

Rating Calculation

1. Payment Behaviour:

   • Bills are evaluated 14 days after release.

   • Customers with a neutral or credit balance receive 1 point.

   • Customers in debt lose 3 points.

2. Meter Reading Compliance:

   • Customers must submit meter readings at least once a quarter.

   • Failure to submit meter readings 3 months prior to bill release results in a 1-point deduction.

Rating Adjustments

1. The algorithm operates in real-time, updating Customer scores continuously based on new billing data, meter readings, and direct debit compliance.

2. Rating changes will trigger corresponding adjustments in unit rates.

Customer Responsibilities

1. The Customer must ensure timely payment of bills to avoid penalties and potential downgrade in rating.

2. The Customer must submit accurate meter readings at least once a quarter.

Jellyfish Energy's Rights

1. Jellyfish Energy reserves the right to amend these Terms and Conditions, including the rating algorithm and rate adjustments.

2. Jellyfish Energy reserves the right to terminate the contract if the Customer fails to comply with the responsibilities outlined herein.

Governing Law

1. These Terms and Conditions are governed by and construed in accordance with the laws of England and Wales.