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What happens if a new supplier changes prices

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Hi

If I switch to a new supplier and during the switch process they increase their prices what happens and what options would one have?

Thanks

Comments

  • spiro
    spiro Posts: 6,405 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    When you started to switch, if you requested to go on a fixed tariff then thats is what they should put you on. If you just decided to switch suppliers on a none fixed tariff then you will pay the current prices which may have increased since you decided to swap.
    IT Consultant in the utilities industry specialising in the retail electricity market.

    4 Credit Card and 1 Loan PPI claims settled for £26k, 1 rejected (Opus).
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    If you switch to a variable price and that price increases, the terms & conditions will explain your right to cancel the contract.

    This normally means giving notice to the supplier, typically within about 14days of receiving notice of that increase, that you wish to cancel the contract because of the price increase, and this will be done if you then switch to another supplier. During the time until the new switch, you should be charged at the original contract rate (not the increased rate).

    Alternatively you can stay with the supplier and accept the rate change from the date they specified.
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
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