Cancellation fees

King_Drax_I

Just looking up new prices for energy given the latest scaremongering.... no I know prices are going up, but most annoyed to find that the 'best' deals I have found have 'cancellation fees of £30 per fuel may be applied if the customer changes supplier' - which means I would be locked in. No way! Does this lock-in period have an end?

Also it makes me laugh - 'may be applied' - of course they will be applied; why should this customer be any different?

Anyway, rant over - do these lock-in periods have an end or are we in it for good and will be penalised by (in my case) a £60 'fine' for escaping their clutches?

Premier_2

You need to read the terms. Yes there is usually a date specified.

macman

The lock in is for the duration of the contract, usually around 12m. But if the saving you'd make in 6m for moving is more than £30, then it shouldn't deter you.
The cashbacks alone are usually more than £30 per fuel anyway.

King_Drax_I

Cool. Thanks, folks, that explains it pretty well

Airmike23

You're never locked in you are only contracted for 28 days on a rolling contract, that is why there is a cancellation charge, to discourage the customer from changing supplier before the atriff ends, but you can't be made to stay with them. EG Online Saver 7 with EDF £60 canx charge (if dual fuel, £30 single), if decided to move to Scottish Power in 6 months time, only do it if saving is in excess of £60, if not don't move