Can we terminate earlier if we change supplier

isotonic_uk

Dear All

I looking at new gas and electricity suppliers on behalf of my parents.

They are fed up with the prices they are paying for their bills and want to go to a cheaper supplier if there is one and maybe combining if that is better.

There gas is with British Gas - standard tariff first is 7.259p and tier 2 is 3.688p.
There elec is with N Power - standard meter/payment on tariff

They want to choose a supplier which doesnt tie them into a fix contract, they want to be able to change supplier at any time. Would they save a considerable amount if they didnt want this option?

Can anyone suggest any solutions?

Any particular supplier come recommended, would we better sticking with either British gas or Npower?

I think converting to an online account is cheaper, is this correct?

thanks

Magentasue

Online means discount, so, yes, cheaper. You need to look over their old bills and find two meter readings a year apart so you know their how many kwh of gas and elec they use in a year. Or a year ago and today's reading. Failing that, a winter quarter and a summer quarter added together and doubled for a year. Beware estimated readings, you need actual (A) readings.

Then put these figures into a comparison site and see what they could save.

Further discount if they'll pay by DD.

Cardew

It also depends on what you mean by 'tied in'.

BG Websaver 2 which comes out at, or close to, the top in most comparisons has a £30 penalty for each fuel if you leave before the end of the year.

It would appear that BG have introduced that small exit fee to discourage the practice of some customers who switch suppliers solely for the 'cashback' incentive. -serial switchers who flit from company to company.

BG Websaver is good for gas, less so for electricity. So you may well be better of getting fuels from different companies and not getting the dual fuel discount.

1carminestocky

Please be aware if you choose an online tariff (especially so with British Gas) in order to make sure your parents are on the very best deal you have to really keep on the ball as they get replaced ridiculously regularly - and your parents would be left on a more expensive one than the new one that would have just been introduced. It's a really silly state of affairs, tbh, with some of the online tariffs lasting just a matter of weeks! You would think you could just choose their 'online tariff', sit back and relax in the knowledge that they would always be on the cheapest deal. Unfortunately, this industry doesn't allow you that pleasure.

isotonic_uk

1carminestocky wrote: »

Please be aware if you choose an online tariff (especially so with British Gas) in order to make sure your parents are on the very best deal you have to really keep on the ball as they get replaced ridiculously regularly - and your parents would be left on a more expensive one than the new one that would have just been introduced. It's a really silly state of affairs, tbh, with some of the online tariffs lasting just a matter of weeks! You would think you could just choose their 'online tariff', sit back and relax in the knowledge that they would always be on the cheapest deal. Unfortunately, this industry doesn't allow you that pleasure.

Would it be best to choose a fixed rate detail to e.g. till march 2010? so you know the tariff prices are fixed for that period or do these tend to be expensive?

thanks

Magentasue

isotonic_uk wrote: »

Would it be best to choose a fixed rate detail to e.g. till march 2010? so you know the tariff prices are fixed for that period or do these tend to be expensive?

thanks

Usually more expensive plus a cancellation fee if you opt out. Worth the risk maybe, when price hikes likely, less of a good bet with things uncertain, as they are now.

Cardew

isotonic_uk wrote: »

Would it be best to choose a fixed rate detail to e.g. till march 2010? so you know the tariff prices are fixed for that period
thanks

That is simply a gamble and nobody can give you an answer.

advantix

isotonic_uk wrote: »

Would it be best to choose a fixed rate detail to e.g. till march 2010? so you know the tariff prices are fixed for that period or do these tend to be expensive?

thanks

Capped would be better. Will not go up but will come down when prices drop