Switching question

Leanne200

Hi everyone, this might be a bit of a stupid question but thought I had better ask!

I have just switched to dual fuel with Scottish Power fixed until 2014 rate via money supermarket.

After I had completed this and it detailed the next steps it occurred to me it does not say anything about what happens with my current supplier...

I assumed that it was like switching banks, they do all the work for you.. am I wrong?

Do I need to contact my current suppliers to cancel with them myself? Also upon checking our gas company require 28 days notice, so I wonder if the new supplier contact the old one and arrange to start supply after the notice period for the old one?

I don't think I really thought this through as much as I thought I had

jalexa

Leanne200 wrote: »

I have just switched to dual fuel with Scottish Power fixed until 2014 rate via money supermarket.

After I had completed this and it detailed the next steps it occurred to me it does not say anything about what happens with my current supplier...

Well done and a good choice of tariff type.

What happens first is that well nothing happens. There is a cooling-off period in case you change your mind. You do not need to contact your current supplier, the new (or gaining) supplier does everything. On or around the agreed transfer date the gaining supplier will ask you to take transfer readings which the gaining supplier will send to the losing supplier.

After the gaining supplier informs your current supplier be aware that a crude "retention attempt" may (or may not) be made. At that stage it is too late to cancel (whatever you are told).

It is also a good idea to work out roughly what your closing account balance will be and make plans for the possibility of both suppliers (correctly) taking direct debits the same month. With luck you may be due a refund. Some suppliers refund by cheque, some refund using the direct debit account assuming you have not cancelled the mandate.

Don't be put off by what I have said, most switches are fairly smooth but try to keep on top of what is supposed to happen, particularly the direct debit timings.

Leanne200

Thanks, it seemed the best fixed rate going for us and I expect E.on to follow suit with price hiking soon enough, as I worked out we could save £10 a month with SP it seemed a no brainer going ahead sooner rather than later

I am relieved that is the case, although I am worried about them getting things wrong all the same!

Thanks alot for the advice, these are all things I should realise but may not necessarily think of at the time so thanks for putting the thoughts in my head so I am better prepared!

I am not too sure about the closing balance though, we have only owned the house since June and were on a quarterly bill... We have only just got full quarters bills for both gas and electric so I think my best bet may be to work it compared to those figures. Plus maybe a bit more on the gas now the cold weather is really setting in of course :-/

Thanks again for your help and advice!