Switching supplier before further price increases

Gators21

Hi, I haven't switched energy providers before and am with British gas for both gas and electric. If I switch to another supplier, I know it can take up to two months. If I switch tomorrow to a fixed tarriff and the new supplier increases prices next week, will I still get the old tarriff rate? Thanks.

DragonQ

Gators21 wrote: »

Hi, I haven't switched energy providers before and am with British gas for both gas and electric. If I switch to another supplier, I know it can take up to two months. If I switch tomorrow to a fixed tarriff and the new supplier increases prices next week, will I still get the old tarriff rate? Thanks.

Yes you will.

krok

Its a waste of time switching as all the power companies will put up prices before the end of the year.

Do you think they all communicate with each other before they do this.

I think so.

Gators21

Yes, I think they do! Just take it in turns who announces it first.

BargainGalore

Not always true it depends on timing if you switch before the company you go up prices and you current supply does you might be able to save money depending on when they do and possible if its afixed tarrif and maybe subsquently price increase before that tarrif ends, it risky but can work for some

krok wrote: »

Its a waste of time switching as all the power companies will put up prices before the end of the year.

Do you think they all communicate with each other before they do this.

I think so.

krok

BargainGalore wrote: »

Not always true it depends on timing if you switch before the company you go up prices and you current supply does you might be able to save money depending on when they do and possible if its afixed tarrif and maybe subsquently price increase before that tarrif ends, it risky but can work for some

You are missing the point.

They will all put there prices up before the year ends.

Do you think they are all psychic. i dont think so.

macman

Gators21 wrote: »

Hi, I haven't switched energy providers before and am with British gas for both gas and electric. If I switch to another supplier, I know it can take up to two months. If I switch tomorrow to a fixed tarriff and the new supplier increases prices next week, will I still get the old tarriff rate? Thanks.

You are guaranteed the fix as soon as your new supplier confirms acceptance of your switch application.
Suppliers have to give at least one month's notice of price increases, they don't increase upon announcement.

68ydbk0CgKt8aB69Lxgu

This is one area where I absolutely disagree with Martin. He recommends waiting until all the power companies have put up their prices before shopping around. The only way to get prices really down is to introduce real market forces. There best way for that is for people to immediatly move away from any company that puts its prices up and to move to one with lower prices. Otherwise what is the incentive for any power company to try to keep its prices down? So what if the then put their prices up, just move again to the current lowest one. If that means 6 moves in the year so be it. If energy companies knew they were going to loose 1/3 of their customers when they increase their prices they would be slower to do it.
I know that if you fix then the above doesn't apply, but meany people are on the "lowest" variable ones anyway.