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Confused about the best tariff - please help

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Hi,

I regularly switch my gas/elec to get the best prices however, something has always confused me...

If a tariff gives an annual discount, such as the best buy for my usage from N Power (9% a year), what happens if I switch to a better tariff before the year is up? Is the discount pro-rata'd or or is it simply not applied?

Help needed as I am currently holding off switching as its just the discount that makes the tariff cheaper than my current one, and I'm worried that the price changes might be short lived

Thanks in advance

John
Mortgage £120K, monthly overpayment £600, 18 years and £100K saved

Comments

  • Anybody???
    Mortgage £120K, monthly overpayment £600, 18 years and £100K saved
  • KimYeovil
    KimYeovil Posts: 6,156 Forumite
    1,000 Posts Combo Breaker
    You don't get diddly squat. I mean, you do get diddly squat.

    The nPower is an annual rebate - you only get it for twelve months complete service. And some have reported you may not receive it until after eighteen months. You do not receive pro rata. You lose £8.zy for every month you were with them.

    Another discount that is paid annually is from Atlantic.

    Others are quarterly, some are monthly.
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    It depends on the actual discount, but some companies do compute some discounts annually. If you are not their customer on the anniversary date, you wont get the discount.

    Be careful also of E.on who don't give any discounts on a final bill.
    "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
  • Thanks for advise, think I'll stay where I am. Fixed last year so still on the cheapest tariff
    Mortgage £120K, monthly overpayment £600, 18 years and £100K saved
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