Regular Switching. Any Downsides?

chambta

My plan from now is to switch often once the cashback offered via Quidco has been paid into my account.

I switched from Southern to Scottish Power and got £100 but I am free to move from them from 31st January and see no reason to stay put.

I should be able to do this every 6-9 months I estimate and even if the tariffs are no cheaper I should be able to bank £120 a year-ish.

Are there any possible drawbacks doing this?

gazza975526570

You can probably do it more frequently should you desire.

Only drawback i guess is you wouldnt get any of the "loyalty" type bonuses - ie NPower i think is £100 every 12 months.

Id just keep a record when you where with whom in case of any queries.

Gerrard_8_lfc

The rest of us foot the bill and then prices go up.

Simplesss.

spiro

To avoid any issues just make sure you have received and actual final bill from your old supplier and a 1st bill from your new supplier. This should indicate the underlying change of supply process has completed successfully.If it hasn't and you keep switching it could cause problems which are compounded by continual switching (see my thread on Elec Ind Process http://forums.moneysavingexpert.com/showthread.html?t=2206181).

chambta

Gerrard_8_lfc wrote: »

The rest of us foot the bill and then prices go up.

Simplesss.

That's not my fault and I don't feel guilty.

Plushchris

Gerrard_8_lfc wrote: »

The rest of us foot the bill and then prices go up.

Simplesss.

I doubt that very much, if the energy companies werent spending out the money on commision they would just spend it on other advertising and merchandising, they certainly wouldnt be knocking it off peoples bills.

Cardew

chambta wrote: »

Are there any possible drawbacks doing this?

The companies are fighting back against the switching 'tarts':T

The tariffs that allow penalty free exits are usually the more expensive tariffs and/or they have their discounts structured so you have to be with the company 12 months.

So by constantly switching, the extra you will pay for gas and electricity with each tariff throughout the year, will cancel out(hopefully) any gains you get from multiple switching.

That is not a criticism of those who can be bothered to constantly switch, - if there is a loophole then use it - but as this cashback is an overhead that is passed to all customers, the companies should be applauded for closing the loophole.