Leaving a fixed contract early

tuggy12 · 13 March 2017 at 3:03PM

I've read at various times, on this board and others, that you can leave a fixed term energy contract within 42-49 days before the end of the contract, without incurring any penalties.

My present fixed term contact with First Utility ends 30/04/17 and I would like to switch suppliers as early as possible without incurring the £30 per fuel exit fee.

I rang Ofgem to try to get a definitive answer but sadly after eventually being transferred to a consumer advice line just got a load of waffle.

I rang the supplier I want to switch to but they said to be certain of no charges I should leave the switch until about 14 days before the end of April, in other words the ' cooling off' period, which would ensure the switch date would be after 30/04/17

Can anyone provide any definitive info on this.

System · 13 March 2017 at 3:28PM

tuggy12 wrote: »

I've read at various times, on this board and others, that you can leave a fixed term energy contract within 42-49 days before the end of the contract, without incurring any penalties.

My present fixed term contact with First Utility ends 30/04/17 and I would like to switch suppliers as early as possible without incurring the £30 per fuel exit fee.

I rang Ofgem to try to get a definitive answer but sadly after eventually being transferred to a consumer advice line just got a load of waffle.

I rang the supplier I want to switch to but they said to be certain of no charges I should leave the switch until about 14 days before the end of April, in other words the ' cooling off' period, which would ensure the switch date would be after 30/04/17

Can anyone provide any definitive info on this.

It is in the Stanadard Licence Conditions for all suppliers. To paraphrase: suppliers are required to notify consumers in the period 49 to 42 days before the end date of a fixed term contract, that the contract is coming to an end. From receipt of this notification, exit fees do not apply. if the supplier fails to inform you, then the default position is at 42 days: from this date onwards exit fees cannot be charged. I would say that you are safe to switch from the 20th March.

Edit:

The above is contained in Standard Licence Condition 22C of the gas and electricity supply licences. It is not an easy read.

teddysmum · 13 March 2017 at 7:08PM

When you are sent the details of your fix the letter usually says that the exit fee will be £x should you leave before [date given].

tuggy12 · 13 March 2017 at 8:19PM

Many thanks Hengus, I'll start the switch on the 20th March.

As you say, the regulations are not an easy read.

footyguy · 13 March 2017 at 9:53PM

tuggy12 wrote: »

I've read at various times, on this board and others, that you can leave a fixed term energy contract within 42-49 days before the end of the contract, without incurring any penalties.

My present fixed term contact with First Utility ends 30/04/17 and I would like to switch suppliers as early as possible without incurring the £30 per fuel exit fee.

I rang Ofgem to try to get a definitive answer but sadly after eventually being transferred to a consumer advice line just got a load of waffle.

I rang the supplier I want to switch to but they said to be certain of no charges I should leave the switch until about 14 days before the end of April, in other words the ' cooling off' period, which would ensure the switch date would be after 30/04/17

Can anyone provide any definitive info on this.

My fix is ending, if I switch now will I be charged an early exit fee?

Energy suppliers are banned from charging exit fees when you have less than 49 days to go till the end of your tariff. These are rules set down by the energy regulator, Ofgem, so suppliers do have to stick to them. So stay within these timeframes and you shouldn't be charged.

Source: https://clubs.moneysavingexpert.com/cheapenergyclub/faq?

Definitive enough for you?

Leaving a fixed contract early

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