End of Fixed term contract..date I can sign up online to new supplier?

laffvic

Fixed term contract runs out 30th Sept. I've decided to move to Scottish Power Online fixed Price energy March 2014.

The part I don't quite understand on MoneySupermarket (or any of the switch sites) is when to sign up.
Does anyone know if I do it now or do I have to wait until 1st Oct before using MoneySupermarket site to sign up to Scottish Power?
Terms of present deal say I will incur a penalty charge if I change suppliers before 30th Sept so the way I read that is I can't do it till 1st Oct, I would feel happier waiting if I knew for sure that's what I have to do.

Any help and advice will be really appreciated.

Terrylw1

You will have a cooling off period and this doesn't impact the end of your current contract.

The switch date is what matters. The new supplier has to allow the current supplier time to object which is typically 5 working days. So, add this to the cooling off period.

You are also entitled to delay the switch beyond your contract end date by informing your new supplier to register after X date.

SnowMan

As terrylw1 says you are safe to switch now from another supplier to that Scottish Power tarriff.

As the cooling off period is 14 days (in your case) they certainly won't switch you before then or else that would create problems if you exercised your cancellation rights subsequently, and that will take you past 1st October.

It is the date that your old supplier stops billing you and the new supplier starts billing you (which comes towards the end of the up to about 5 week process) which determines whether any exit penalty can be applied by the old supplier, not when you initiate the switch with a switch site.

laffvic

Many thanks, I'd better get on with it :T