First time switch - contract?

RaiderHammer

I am new to this switching game! If you switch is there likely to be a contract lenght of say one year? Or if I switch now will I be free to make another switch anytime in the future? Thanks.

t0rt0ise

Most of the cheaper deals nowadays have contract lengths with a get out fee if you leave early.

RaiderHammer

Erm.. so switching now means you can come un-stuck. I am thinking of EDF and their no increase until March.

t0rt0ise

Switching any time is a risk. But it's a risk I've just taken too and am going with EDF. Be sure to sign up through a cashback site to get an extra £80 if you decide to jump to EDF. I use Quidco but there are others.

dogshome

Hi RaiderHammer - Entering an annual contract to get the cheapest tariff is just the latest wheeze operated by the Utilities to either lower costs or lock-in the customers
This whole jump-thro'-an-extra hoop for a low price system started with Direct Debits payments, and I'm wondering what else is left - A discount for collecting your electricity in a wheelbarrow from the nearest power station perhaps?

Don't worry about the lock-in period. The worse that can happen is that you are stuck if prices generally go down - If your lock-in supplier puts the prices up, provided you notify them as soon as you have been informed of the increase, you can switch free of cost and whilst you are doing it, the supplier has to hold the prices at the original level.

macman

RaiderHammer wrote: »

Erm.. so switching now means you can come un-stuck. I am thinking of EDF and their no increase until March.

Don't get hung up on ETC's They're typically £30 per fuel. So if switching whilst still in contract will save you more than that in cheaper rates and cashback rewards, it's still worth doing.
EDF will doubtless hike prices hugely come March.

RaiderHammer

A job for me tonight I think!

macman

Once you have your annual figures it's 5 mins work.