Avoiding Early Termination Fees

JoWill_2

I’m currently with British Gas on a contract with early exit penalties if I leave before a certain date. I phoned up Scottish Power to ask how to ensure any transfer won’t take place until after this date so BG won’t charge a fee.

I spoke to a helpful chap who told me that if I move supplier before the end of the penalty period, I can still move without paying the fee. All I need to do is contact my current supplier and tell them that “I will not be taking up the maturity offer and have found a better deal elsewhere”. Not having heard this before I asked him to repeat it so I’m pretty sure I’ve not misunderstood.

Has anybody else heard of this or got any thoughts? I’ve had a look on the web and can’t see any other references to it.

PoTsyGirl74

JoWill wrote: »

I’m currently with British Gas on a contract with early exit penalties if I leave before a certain date. I phoned up Scottish Power to ask how to ensure any transfer won’t take place until after this date so BG won’t charge a fee.

I spoke to a helpful chap who told me that if I move supplier before the end of the penalty period, I can still move without paying the fee. All I need to do is contact my current supplier and tell them that “I will not be taking up the maturity offer and have found a better deal elsewhere”. Not having heard this before I asked him to repeat it so I’m pretty sure I’ve not misunderstood.

Has anybody else heard of this or got any thoughts? I’ve had a look on the web and can’t see any other references to it.

My websaver 11 tariff with British Gas ends on the 31st May, and like you I was worried about switching supplier too early because of early termination charges. Just to reassure you a bit, I spoke to British Gas yesterday and was told categorically that I could start the transfer process now, as by the time the cooling off period is over and the switchover is complete, it would be well after the end of the month, thus not incurring any exit fees.

Incidentally, I'm moving to Scottish Power's Online Fixed Price Energy July 2013 deal as I found (via price comparison sites) it's the best tariff available right now. I also made the application via TopCashback, so I'll hopefully get £42.42 back aswell.

British gas offered me a move onto their Online Energy tariff at the end of the Websaver 11, with a £50 credit but it still wouldn't beat the savings I'll make with Scottish Power.

Hope this helps

Terrylw1

Check out this thread on the dates issue. Just be aware Ofgems 4-6 weeks switching time is physical time, its the registration date that counts.

https://forums.moneysavingexpert.com/discussion/3941061