49 days until my fix ends

miniemma

I am on Scottish Power's Online Fixed Price Energy February 2015
Tariff End Date 28th February 2015


If I have calculated correctly, today is exactly 49 days until the end of my fix.


Do I have to wait for notification from Scottish Power that my fix is ending or can I just go ahead and start the process today?

good_advice

If you changing to another SP tariff you can change tariff whenever you like.
I tariff surf every few months now with SP. the last x2 times I moved onto the latest, more cheaper tariff for our use and area.
I am now on online fixed price energy January 2016.
I change tariff online as an online customer. No phoning and hanging on to the phone at my expense for ages.

Just read the bit about waiting for notification!!!!!!
Be careful here = you might not get any notification. Just moved onto the more costly standard rate.

miniemma

I was thinking about changing supplier but I am also looking at the Jan 16 tariff too.

matelodave

If there's no penalty for changing tariffs then you can do it when you like other wise I'd probably wait for a couple of weeks - there might even be a few more cheaper tariffs around by the beginning of February.

System

Under OFGEM rules, when you are on fixed tariff contract, then the supplier must contact you within the period 49 to 42 days before the end of tariff date. You are then free to switch without the risk of exit fees or a change of tariff. Switches should now go through within 17 days so there is no need to switch immediately.

miniemma

Hengus wrote: »

Under OFGEM rules, when you are on fixed tariff contract, then the supplier must contact you within the period 49 to 42 days before the end of tariff date. You are then free to switch without the risk of exit fees or a change of tariff. Switches should now go through within 17 days so there is no need to switch immediately.

Hengus, yours is the text I keep seeing and wanted clarification.


You say "You are then free to switch." Does this mean I am not free to switch until they have contacted me?


The reason for not waiting is I am looking at the coop fix which could end any time now.

System

Personally, I would wait until the 41 day point if my energy company hadn't contacted me before then. My guess is that if the Coop offer is going to change it is unlikely to be worse (higher) than it is today as wholesale gas and oil prices are falling.

OFGEM RULES

Suppliers will be banned from increasing prices, or making other changes to fixed term contracts which are to the disadvantage of a customer. The only exceptions to this are “tracker” tariffs that follow an independent index over which the supplier has no control, or structured price increases set out in advance which are fully in line with consumer protection law. This new rule applies to any contracts entered into on or after July 15 2013.

Suppliers will be required to notify customers that their current fixed-term is coming to an end between 42 and 49 days before the contract ends.

Between this notification period and the end of the fixed term contract, suppliers will be banned from charging a termination fee should the customer decide to switch.

Suppliers will be banned from automatically rolling a customer over onto a further fixed term contract.

Instead suppliers will be required to default customers to an evergreen contract if the customer takes no switching action before the end of their fixed-term contract (this default contract must be the cheapest evergreen tariff with the supplier from 31st March 2014).

miniemma

Thanks
<takes off impatient hat and replaces it with patient hat and bites nails>

matelodave

The main thing is do you have a contract termination fee?. When I was with SP they didn't. Check your T&C's. If you don't have a fee then swap when you like as there will not be any penalty.

miniemma

matelodave wrote: »

The main thing is do you have a contract termination fee?. When I was with SP they didn't. Check your T&C's. If you don't have a fee then swap when you like as there will not be any penalty.

I do have a penalty

Consumerist

The supplier MUST notify you between 42 - 49 days from end of contract (this is a Licence condition). You are free to switch at any time from 49 days before end of contract whether or not you have received the notice.

In any event, a switch to another supplier will take more than 7 days (49 - 42) to complete so you can apply for a switch without having to wait. Providing the date of the switch is within or after the switching window then early-termination charges cannot be applied.

If you want the Co-op Fair & Square March 2016, I wouldn't waste any time.