Locked in until 30 September - Switch now?

THRIFTY_GIRL

Just checking - as it generally takes 4 to 6 weeks to switch can I start the process rolling now or will I risk paying the cancellation fee?

My EDF tariff ends on 30th September. No, don't risk it, only actual experiences or if there are any company representatives on the forum who may be able to advise please?

macman

You'd be better waiting until about 5/9 to be sure.
It depends who you want to switch to and whether that tariff will still be available.

Terrylw1

The switch date isn't 4-6 weeks.

4-6 weeks was the old Ofgem guidance to customers but there is now a set timeframe of 21 days after the colling off period ends.

Your switch date is within this but at least 5 working days + a few days of data transfer time between parties. It also depends on how fast they start the ball rolling.

To be safe, get the end of your cooling off period close to it.

CaptainHaddock_2

Terrylw1 wrote: »

Your switch date is within this but at least 5 working days + a few days of data transfer time between parties. It also depends on how fast they start the ball rolling.

To be safe, get the end of your cooling off period close to it.

Just to be clear, are you saying that one should initiate the transfer (sign up) about 21 days (or less) before the end of the old deal?

keith1950

My EDF tariff ends on 30th September.

Personally I would not risk it before 10th September.

Just to be clear, are you saying that one should initiate the transfer (sign up) about 21 days (or less) before the end of the old deal?

21days is about the earliest I would chance,while it can sometimes take up to 6 weeks or even more, one switch I initiated took place 22 days after application.

It almost seems in some cases that the application is 'rushed through' if there's any chance of charging the exit fees.

Terrylw1

CaptainHaddock wrote: »

Just to be clear, are you saying that one should initiate the transfer (sign up) about 21 days (or less) before the end of the old deal?

The 21 day rule is the time the supplier is expected to initiate and complete the whole process. The start being them sending their notification to switch you which includes the proposed date.

What I meant was, if you finish your cooling off period as your old contract expires, the new supplier can't send a switch date that would be prior to your expiry date. This is because a supplier has to use a future date and has to allow for the objection window plus a few days of data transfer time.

Does that make sense?

This would mean that the supplier would spend a further 21 days maximum if they adhere to the standard, where you would be on a standard rate. You can minimise this further be eating into the objection window and data transfer time but this would increase the risk of them sending it before your old contract expires.

Some suppliers are giving 15 days or so in their t&c's to allow you to avoid the early termination charge and staying on your old rates whilst you transfer, so check that out.

Another way is to ask the new supplier not to send their notification until after X date. Ofgem allows for the supplier to fail their 21 day obligation where the customer has asked for a date further in the future, presumably due to early cancellation charges. For me this has some risks as it relies on the new supplier doing what you ask but maybe if you protect yourself by doing it in writing, taking names, ensuring they record notes/the conversation, etc then perhaps a complaint would mean you could recover any early termination charges off them?

Terrylw1

keith1950 wrote: »

Personally I would not risk it before 10th September.



21days is about the earliest I would chance,while it can sometimes take up to 6 weeks or even more, one switch I initiated took place 22 days after application.

It almost seems in some cases that the application is 'rushed through' if there's any chance of charging the exit fees.

The switch is driven by your new supplier.

The 21 day rule only came in Nov 2011. It still probably takes longer but the customer has a legitimate complaint if it does as the supplier has confirmed its compliance the industry standard in writing, as with all Standard Licence Conditions (SLC).

a&akay

Same dilema in moving from EDF Fixed Saver V2 Sep 12 electricity to Scottish Power fixed Nov 13. I had worries about the latter being pulled and it saves me about £14 a month compared to EDF's new Blu. The potential £25 cancellation charge was offset by a £20 cashback from Monersupermarket at the time I switched, so no-brainer really. I got the 15 day letter from EDF so may not be charged if the switch is earlier than 30 Sep, which I judged likely, we'll see.

neilmcl

True, but the EDF Blue 2014 is fixed for 2 winters, so the Scottish Power deal may not be as good as you may think. Just something to bear in mind.

a&akay

neilmcl wrote: »

True, but the EDF Blue 2014 is fixed for 2 winters, so the Scottish Power deal may not be as good as you may think. Just something to bear in mind.

Accepted. Took the gamble that I'll be in pocket, as with all fixes. Only time will tell. Current increases of 9% being bandied about as probable would still leave me up by £6 a month on my current usage, and now I've fixed on what I consider to be a good rate by that figure.

Gambler

a&akay wrote: »

I got the 15 day letter from EDF so may not be charged if the switch is earlier than 30 Sep, which I judged likely, we'll see.

I have the same 15 day letter but it doesn't mention the cancellation charge.

It just says they will extend the fixed saver 2 rates until the transfer is complete.

Very tempted to switch to Scottish Power but don't want to be charged £50 by EDF for leaving a few weeks early.