Delaying price increases while switching

Herongull

Hi,

My understanding is that when gas and electricity companies increase prices they have to tell you in advance and if you decide to switch to avoid the increase and you let them know within certain time limits they they have to keep you on the old price while switching.

This is what I did with my old supplier.

My current supplier Ovo say that they have never heard of this rule and that they don't do this. But I thought it was mandatory for all utilities, not something you could opt in or opt out of?

There is a complication here in that I am on a fixed price deal with OVO and they want to put the price up at the end of the deal, and I wanted to know if I would use the rule to hold the price constant while switching. It may not apply in this situation, but I was very surprised to find that they had never heard of the rule?

Does anyone clarify? What is the rule called? Is there are link to it?

devilsadvocate88

Whenever energy companies increase their Standard rates for gas/electric they have to give customer's an opportunity to switch without incurring any of the rises and, in some cases, any cancellation fees from certain tariffs.

However, that isn't what is happening in this case. Your prices are set to rise because you are coming to the end of a cheaper deal and will have to revert to their standard prices. The company aren't increasing their standard rates at all, its just that you are now going to be charged on those rates, rather than the better deal you've been on before.

I hope that makes a bit more sense, I sometimes struggle to explain things eloquently

devilsadvocate88

Ah, apologies. I see Ovo were going to increase their standard rates. I mis-read the situation.

I don't believe the rule has a specific name but it is an OFGEM guideline so you could check their website.

It all depends on when your fixed tariff comes to an end in this case then.

ceedee1888

slc 23 rule