Is this a bad time to switch?

Seamonster_2

Apologies if this has been discussed elsewhere.

I'm currently in the 14-day cooling-off period whilst switching from Southern Electric to E.ON. I was happy with the potential savings (around £350, hopefully) until I read this piece of advice from an expert on the Guardian website, relating to the recently-announced BG price cut:

Q: I was about to switch suppliers. Should I wait until the dust settles?
A: Yes. It is worth waiting at least a few weeks because you can then make a better comparison.

I think they're referring to the likelihood that other suppliers will follow BG's lead.

Does anyone have a view on this?

Premier_2

Now you've applied to switch, let the switch continue. By the time the dust has settled, you'll be in a position to switch again if there is reason to do so.

If you cancel now, wait for the dust to settle, then do the comparison and wait the 4-6 weeks it'll take to action any resulting switch, you'll have spent an extra £80-£100 (over what you need to) on energy if your initial comparison is correct.

Edit: I mentioned yesterday I would expect Martin to turn his traffic light red soon because of the possibilty of other suppliers changing tariffs. It appears he opted to turn it to amber, pending such possible announcements from suppliers
http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

Flower_Power_mark_2

Good question seamonster and one that I am also intersted in. Funnily enough just changed my tariff with e-on and am also in a cooling off period. I was going to bite my lip and stick with the change I made but would be grateful if anybody could offer advice if they think i should hold fire.

philbostavros

I have been dithering for several weeks now, as I was in two minds as to whether to take the Scotish Power deal or Altantic's fixed price offer.

Though I am still on separate gas and electric standard tariffs (I know - my fault) I think I too may hold on a couple of weeks.