New Fixed Price Cap - When is it Implemented?

jazzy

Just set up a new contract with SWALEC for a 12 month fixed price for Electric and Gas.

I was hoping to beat the up and coming winter energy price rise. However the new contract can take up to 7-8 weeks to be implemented i.e "Your Account is Set Up at 20 Nov - 4 Dec.

Any idea if the fixed price start when you apply for the new contract or when the account is setup i.e 7-8 weeks?

keith1950

Its usually 12 months from the start date the tariff is announced not 12 from when you switch.

If you switch 6 months after a 12 month tariff starts then you only have 6 months left on it !!

You will be on your old tariffs rates until you switch which is normally 4-5 weeks..... I recently switched to M&S fix and save and if took 5 weeks.

M&S is through SSE and Swalec is owned by SSE.

macman

If your switch application has been accepted then you'll get that tariff, regardless of whether it's subsequently closed to new applicants before you actually go on supply.

jazzy

I am still confused when the new capped contract comes into force, especially with the recent price increases. Am I going to miss out and find that my new capped contract will be at the new price increase rate?

I have added a photo of the various stages of the contract swap over.

keith1950

Any idea if the fixed price start when you apply for the new contract or when the account is setup i.e 7-8 weeks?

I am still confused when the new capped contract comes into force, especially with the recent price increases. Am I going to miss out and find that my new capped contract will be at the new price increase rate?

Hi, If you apply for a tariff before its closing date then you will get that tariff from when the switch actually happens, no matter how long the switch takes.

If it has a closing date for that tariff of , say Oct 2014 and you switch in Dec 2013 you will only be on that tariff for 10 months even though it might be called, say, a 12 month fix !!

macman

jazzy wrote: »

I am still confused when the new capped contract comes into force, especially with the recent price increases. Am I going to miss out and find that my new capped contract will be at the new price increase rate?

I have added a photo of the various stages of the contract swap over.

As soon as you reach stage 1 (contract confirmation).