Exit Fee question

Rapscallioniam

Hi, I've searched the boards and elsewhere to answer this question but I don't use the forum much so bear with me and I apologise if this is a common question.

Exit fees. Which date specifically does it apply? The day you (or more likely your new provider) notifies the existing provider of the change? Or the date when the supply actually changes?

My understanding of the word "exit" suggests that it should be the second date, but my instincts tell me otherwise, given the (IMO) unreasonably long time it takes to switch.

Can someone explain?

matelodave

It should be the exit date - you are still in contract until the contract ends, ie the day when the supply gets transferred to the new supplier.

dogshome

Exit dates and charges from the existing supplier when moving to a new supplier used to be in a 'No Man's land', with some suppliers making the charge because the date they had been first advised of the Switch was before the End Date of their contract with the customer, whilst others only charged if the actual date of the Switch was within the contract term.

Eventually, Ofgem woke up from it's usual state of slumber and dictated that the date that counted was the day the Switch actually took place.

Despite the recent Hullabaloo that the Switch process should be completed in 17 days they can still take many weeks, so be prepared to spend some time on your present suppliers 'Standard' tariff before your Switch is completed