Cheap Energy Club queries

Tinkywinks108

I am using The Cheap Energy club to switch my gas/electricity provider. Sorry if the following seems like silly questions...

If, during my contract term with my energy supplier, I am emailed with a cheaper option, would that include the bail out fee or would I need to take that into consideration? So it might not actually work out cheaper after all?

Also, I'm not sure I understand the risk of getting a variable tariff. How likely is it that prices will go up, and is it normally by a huge amount?

This would also make it difficult to calculate whether it is worth paying the bail out fee if switching to a variable tariff. What if it then goes up considerably? Perhaps it is better to wait until my contract runs out until switching?

I would appreciate anyone kind enough to explain any of the above for me!

Wywth

Tinkywinks108 wrote: »

I am using The Cheap Energy club to switch my gas/electricity provider. Sorry if the following seems like silly questions...

If, during my contract term with my energy supplier, I am emailed with a cheaper option, would that include the bail out fee or would I need to take that into consideration? So it might not actually work out cheaper after all?

Also, I'm not sure I understand the risk of getting a variable tariff. How likely is it that prices will go up, and is it normally by a huge amount?

This would also make it difficult to calculate whether it is worth paying the bail out fee if switching to a variable tariff. What if it then goes up considerably? Perhaps it is better to wait until my contract runs out until switching?

I would appreciate anyone kind enough to explain any of the above for me!

Afaik, no account of any early exit fee is taken into account.
But if you set your alert limit at a reasonable rate, you can allow for this

On a variable tariff, it is very likely charges will change over a 12 month period. If it goes up, you can switch (without early exit fess, even if they otherwise apply - terms apply)

stephencdf

Hi...we joined the Cheap Energy Club, and switched to Sainsbury's Energy, as part of a Cashback Deal. We received an email confirming that the switch was in progress on June 25th. We subsequently heard nothing, and on calling the Sainsbury's Energy this morning, were told that they hold no details on file. Can someone at MSE help? Worryingly, there's no contact details on the CEC pages for when things go wrong.....

Tinkywinks108

Wywth wrote: »

Afaik, no account of any early exit fee is taken into account.
But if you set your alert limit at a reasonable rate, you can allow for this

On a variable tariff, it is very likely charges will change over a 12 month period. If it goes up, you can switch (without early exit fess, even if they otherwise apply - terms apply)

Thanks for this info. So if I understand this correctly, no matter what utility company I use, they're obliged to let me go if the rates go up, without charging me early exit fees.

Tinkywinks108

stephencdf wrote: »

Hi...we joined the Cheap Energy Club, and switched to Sainsbury's Energy, as part of a Cashback Deal. We received an email confirming that the switch was in progress on June 25th. We subsequently heard nothing, and on calling the Sainsbury's Energy this morning, were told that they hold no details on file. Can someone at MSE help? Worryingly, there's no contact details on the CEC pages for when things go wrong.....

Sorry, I don't have any help to offer but you might want to re-post this as a separate new thread which might get more noticed. Otherwise, all I can say is that aside from the unavoidable glitches/errors etc. MSE are completely reliable!

Southend1

stephencdf wrote: »

Hi...we joined the Cheap Energy Club, and switched to Sainsbury's Energy, as part of a Cashback Deal. We received an email confirming that the switch was in progress on June 25th. We subsequently heard nothing, and on calling the Sainsbury's Energy this morning, were told that they hold no details on file. Can someone at MSE help? Worryingly, there's no contact details on the CEC pages for when things go wrong.....

I switched 5 months ago. Still no cashback. If you do contact MSE they just fob you off. I won't trust them again.

Wywth

Tinkywinks108 wrote: »

Thanks for this info. So if I understand this correctly, no matter what utility company I use, they're obliged to let me go if the rates go up, without charging me early exit fees.

Correct, as long as you follow the terms relating to such occassions

(Doesn't apply if cost goes up due to regulatory issues, such as a change in VAT etc)

Tinkywinks108

Wywth wrote: »

Correct, as long as you follow the terms relating to such occassions

(Doesn't apply if cost goes up due to regulatory issues, such as a change in VAT etc)

That's brilliant, thanks so much for your help.