First time switcher - timing?

d0nkeyk0ng

We bought a new house at the start of February last year. The gas and electricity were with British Gas so I stayed with them and just changed to the February 2016 Price Promise plan. This tariff ends on 29th Feb.

I've had a look with the cheap energy club and E-on looks like it will save me £300 a year. I know it takes a few weeks to switch.

Having never done this before, how do I ensure I switch without paying any early exit fees to BG and without switching to BG standard tariff?

I'm just a little bit confused about the whole thing.

youravinalarrrf

As far as I'm aware your existing supplier is required to notify you that your contract is coming to an end somewhere between 42 and 49 days before it happens as at that point you would be automatically transferred on to their more expensive standard rates.

As long as you have 42 days or less to go you should be fine to start the switching process to a new supplier.

If in any doubt check your existing contract paperwork.

System

Ok - the rules which are now written in to all suppliers' licences.

Fixed term contracts

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).

Once you initiate the switch, the new supplier will be responsible for informing BG; that is, you have to do nothing. Most of the confusion about exit fees arises from the fact that customers ring their existing supplier to tell them that they are leaving.

Your new supplier will ask for meter readings. If you can, then provide these on the day/s when the switches are planned to go through. These readings - which may be industry adjusted - will be used to close your old account and open your new one.

Do not cancel your DD until you actually know that the switches have taken place. If the switch/es are delayed you will remain on your present BG tariff until the switches go through. Most suppliers are now aiming at 17 day switches (cooling off period plus 3 days) but their licence allows them 35 days from the date that you apply to switch.

d0nkeyk0ng

Thanks that's perfect.