Exit Fees - Extra Energy

emilyfrankum

I am staying with the same provider extraenergy but changing to a different package - yet I STILL HAVE TO PAY AN EXIT FEE OF £50!!! Is this fair?? :mad::mad::mad:

vuvuzela

emilyfrankum wrote: »

I am staying with the same provider extraenergy but changing to a different package - yet I STILL HAVE TO PAY AN EXIT FEE OF £50!!! Is this fair?? :mad::mad::mad:

What did the T&Cs say when you signed up to EE ? Did you not notice this, or have they changed them (and written to you regarding this) since you signed up ?

AndysDad

Certainly doesn't seem fair as you are not leaving them.I would contact them and explain your situation.How long have you got to run on the original tariff ,as if its less than 49 days I don't think they can charge you exit fees.

System

AndysDad wrote: »

Certainly doesn't seem fair as you are not leaving them.I would contact them and explain your situation.How long have you got to run on the original tariff ,as if its less than 49 days I don't think they can charge you exit fees.

Fairness doesn't come into it. Each contract has its terms and conditions. If it is fixed tariff then it may or may not have an exit/termination fee. As prices fall, we are beginning to see smaller suppliers stopping free tariff transfers - presumably, because they are committed to buying energy at a certain price.

Exit fees do not apply if the fixed contract is in the 49 to 42 days to go window.

phillw

Hengus wrote: »

presumably, because they are committed to buying energy at a certain price.

The wholesale energy market is a complex thing. While they buy futures to protect them from price rises, that isn't the only way they buy energy. It's made even more complex because they don't even know how much energy they actually needed until after they have billed you, they also work on estimated usage.