Timing for switching question, advice please

happyhero

Sorry probably common question but I am with Scottish Power for gas and electric on a deal that runs out Feb 28th 2015 with penalties for leaving early, bearing in mind it takes a few weeks to switch over completely, can I start the process off before then and if so when would be good or am I best waiting until the 28th of Feb?

Just thinking maybe I could avoid going on Standard tarrif after the 28th Feb while waiting for new supplier to complete process.

Any info appreciated.

CashStrapped

Ususally you can begin the switch process around 6 weeks before your tariff ends. Soem switch providers hold the switch untill your fixed tariff has ended to ensure you do not get a penalty:

http://www.moneysavingexpert.com/utilities/Capped-tariff-ending-compare-gas-an#step1

However there is an alternative.

Usually you can switch between tariffs with the same company for no penalty! If you switch to Scottish Powers latest Feb 2016 fix then you will be on a much cheaper tariff for no fee.

To make things even better, the Feb 2016 has no penalty for leaving. It is a fixed tariff but you can leave whenever you want.

Do not be confused by the term "fixed", it does not always mean you are locked or fixed to the deal (or even have a penalty for leaving).

So I would ring Scottish Power, see if you can switch (without penalty) to the Feb 2016 tariff. Once done, confirm there is no penalty for moving away.

Then you can use the comparison sites and switch to whatever tariff you like!

happyhero

CashStrapped wrote: »

Ususally you can begin the switch process around 6 weeks before your tariff ends. Soem switch providers hold the switch untill your fixed tariff has ended to ensure you do not get a penalty:

http://www.moneysavingexpert.com/utilities/Capped-tariff-ending-compare-gas-an#step1

However there is an alternative.

Usually you can switch between tariffs with the same company for no penalty! If you switch to Scottish Powers latest Feb 2016 fix then you will be on a much cheaper tariff for no fee.

To make things even better, the Feb 2016 has no penalty for leaving. It is a fixed tariff but you can leave whenever you want.

Do not be confused by the term "fixed", it does not always mean you are locked or fixed to the deal (or even have a penalty for leaving).

So I would ring Scottish Power, see if you can switch (without penalty) to the Feb 2016 tariff. Once done, confirm there is no penalty for moving away.

Then you can use the comparison sites and switch to whatever tariff you like!

Cheers for that, I was thinking of doing what you said until I received this and when I then Googled it it seemed to back it up so started using the fuel supplier search tool on here. That has directed me to First Utillity but trouble is it warns that their customer service is not been great lately. Next cheapest for me is OVO. Once I saw this that prompted me to put the question above on here and see when I could get the ball rolling.

System

Caveat Emptor. Ovo is a great company with competitive prices; however, the downside is that they will not let customers switch tariffs for free. Most Ovo tariffs have a £30 per fuel exit fee (i.e.; £60 for dual fuel)

advantix

AFAIK the switch process between suppliers has been substantially reduced - it is now 14 days cooling off and 3 working days to switch so a total of approx 17 days or 2 and a half weeks. Not sure if this includes the smaller companies or not