can i switch again?

the_macs

hi

apologies if this has been asked before but i would like to know this..

i switched (joint) gas and electricity suppliers about 3 months ago, from edf to southern, according to the comparison chart i would have saved money and been a bit "greener". now, with the huge price hikes, i am considering moving to a capped provider but don't know if i can-my present company doesn't do capped-as i don't know whether there is a penalty charge.

can anyone help please?

thanks

KimYeovil

There is no up-front transparent penalty charge for most suppliers/tariffs other than (as you noted) for capped deals. But there are quarterly or annual 'discounts' that you may lose depending on when you switch. But unless you are on a very low usage, the loss of the discount should not be significant.

For example npower charged you a flat £7 extra every month (now gone up to £8.33) then give you this back after twelve months as an annual dual fuel direct debit 'discount'. So if you switch after 3 months you don't get your £21 and if you switch after 11 months you've paid an extra £77.

The alternative rebate is modeled like the one by British Gas. They have a similar size 'rebate' but is pro-rata to your consumption BUT it is credited to you every quarter. And for some companies the rebate is pro-rate only to your tier 2 consumption!

Of course, this is mitigated by any cashback offer you may get.

Anyway, the short answer is unless your combined bills are under £20 per month then no, there is no penalty charge, you can switch after 28 days.