First time buyer - Energy question

Mr_PRJ

Hi all.

Just bought my first property and due to complete and get the keys tomorrow. We're not moving in straight away as there's a lot of work we want to do first. I know I've got to do meter readings and phone the supplier with them and that I'll be on a 'deemed contract'.

When I phone them and provide the meter readings, am I obliged to take out a contract? Can I go on a temporary or 'pay as you go' style contract? I only ask this as we'll be coming and going for a while yet and I don't particularly want to have to agree to an energy tarif on day one, which may not be the best for us. If I take out a contract with them can I cancel it in a few months if I find a better deal elsewhere?

Any help would be much appreciated

CashStrapped

You will set up an account with them, usually on a standard tariff. You will give them bank details and set up a direct debit amount.

However, as soon as you set up the account you are free to switch to whatever supplier you like.

To compare tariffs you can use average UK usage figures to give you an idea of the best tariffs.

Low users use around 8000kwh Gas and 2000kwh Electricity

The average use is around 12,500kwh Gas and 3500kwh Electricity

A high user may use 18,000kwh Gas and 4600kwh Electricity

Take your pick and use those figures. You could test with all three options and see what comes up.

Mr_PRJ

That's great thanks. I'm guessing standard tariffs are more pricey than others?

CashStrapped

Yes.

It will take about two-three weeks to switch, so you can either stay on the standard tariff for that time

or

before you switch, see if there is alternative tariff with the existing supplier that is cheaper than the standard but will still allow you to switch away without a penalty.

macman

You are in a deemed contract with the existing supplier as soon as you move in and use the services. Unless you request otherwise, this will be Standard tariff-the most expensive, but which has no exit fees.

footyguy

Mr_PRJ wrote: »

Hi all.

Just bought my first property and due to complete and get the keys tomorrow. We're not moving in straight away as there's a lot of work we want to do first. I know I've got to do meter readings and phone the supplier with them and that I'll be on a 'deemed contract'.

When I phone them and provide the meter readings, am I obliged to take out a contract? Can I go on a temporary or 'pay as you go' style contract? I only ask this as we'll be coming and going for a while yet and I don't particularly want to have to agree to an energy tarif on day one, which may not be the best for us. If I take out a contract with them can I cancel it in a few months if I find a better deal elsewhere?

Any help would be much appreciated

Mr_PRJ wrote: »

That's great thanks. I'm guessing standard tariffs are more pricey than others?

Not sure what you mean by a PAYG contract.

For both gas & electricity you can either have a credit meter or a pre-payment meter.

If you are fortunate enough to have inherited credit meters, I suggest you keep them if you want access to the cheapest possible tariffs.

Eitherway, consult a comparison site to find the best deal for you.
Be aware of possible early exit fees depending on when you plan to start using more energy, as at that time you will probably need to change supplier/tariff to keep on the best deal for you based on your new usage parameters at that time.