Deal coming to an end

scotty1971

My current deal with Npower comes to an end of the the 31st August,and i am going to switch to the co-op.When do i start the switch process so that i do not incur the £60 exit fees from Npower?

thanks

scott

macman

A switch takes 4-5 weeks, so start by 10/8.

scotty1971

thanks for that,will mark it in my callendar

dippydolly

N Power SHOULD send you a letter about a month before the deal ends stating it is about to end. Once you have that you are entitled to leave without paying. I believe this to be the case, but If I am wrong I expect someone will be able to put me right.

Nada666

macman wrote: »

A switch takes 4-5 weeks, so start by 10/8.

No need to wait until the tenth of August. (Did you mean 10/7?)

From this year it is safe to apply 42 days before the end of the fix. So you can apply today.

Of course, suppliers may not have spruced up their system to fully comply with the 42 to 49 day rule so you have to watch out for computer (sic) error and are not charged exit penalties by mistake.

Not only will you not be penalised if the switch doesn't take place until after 31 August you should not be charged the standard tariff prices - they have to honour the fix's price until changeover.

Consumerist

Nada666 wrote: »

Not only will you not be penalised if the switch doesn't take place until after 31 August you should not be charged the standard tariff prices - they have to honour the fix's price until changeover.

I don't think this is correct.

It is my understanding of SLCs that they only have to hold the price if you elect to change supplier as a result of a price increase (so it shouldn't apply to fixed tariffs at all).

So that would mean that if your switch takes place after the end of your contract (e.g. if you delay applying to a new supplier) then you will pay standard tariff prices until the switch takes place.

Nada666

Consumerist wrote: »

I don't think this is correct.

It is my understanding of SLCs that they only have to hold the price if you elect to change supplier as a result of a price increase (so it shouldn't apply to fixed tariffs at all).

I agree it shouldn't apply to fixes - but it does seem the new version of the rules brought in by Ofgem this year explicitly extend the provision to them.

You will receive a notice 42-49 days before the end date of your fixed term tariff to inform you that your tariff is coming to an end.

Should you choose to switch supplier, you no longer have to inform your current supplier that you intend to do so. Where you switch in the case of a price increase, even if this is after the date the price rise comes into effect, as long as you decide to switch soon after the increase and your switch to the new supplier is completed in a reasonable amount of time, you will not have to pay the higher rates.*”

*Customers with outstanding charges on their accounts may need to pay these off before they can benefit from these rules.

Consumerist

I don't know where your second quote originated but it doesn't look like the SLCs and looks like it came from a supplier.

You will receive a notice 42-49 days before the end date of your fixed term tariff to inform you that your tariff is coming to an end.

Should you choose to switch supplier, you no longer have to inform your current supplier that you intend to do so. Where you switch in the case of a price increase, even if this is after the date the price rise comes into effect, as long as you decide to switch soon after the increase and your switch to the new supplier is completed in a reasonable amount of time, you will not have to pay the higher rates.*”

*Customers with outstanding charges on their accounts may need to pay these off before they can benefit from these rules.

So, as I said, prices need to be held by suppliers only in the event you elect to change supplier due to a price increase.

jbuchanangb

I was on the "Online Price Fix August 2014" tariff which I understood to have an early exit penalty. In April when I received my first bill in the new format, it showed a panel stating "Early exit fee - None".

I switched on June 15th. They issued my final energy statement on 24th June with out any such fees.

Just do it.