advise needed, when is it safe to switch my electricity and gas company?

trinidadone

I am currently with First Utility and have a fixed rate until 31st march 2016.

I have just gone onto the cheap energy club (Moneysavingexpert) and I have discovered I can save a £186.00 per year (£16.00 a month) switching to flow energy.

73% say its a great company.

Should I switch now? wait it out for any other companies to be added to the cheap enery club, or simply wait until after the 31st march 2016???

Hasbeen

trinidadone wrote: »

I am currently with First Utility and have a fixed rate until 31st march 2016.

I have just gone onto the cheap energy club (Moneysavingexpert) and I have discovered I can save a £186.00 per year (£16.00 a month) switching to flow energy.

73% say its a great company.

Should I switch now? wait it out for any other companies to be added to the cheap enery club, or simply wait until after the 31st march 2016???

Personally I would wait a little, just to save the £60 cancellation fees?

Would try and time it so switch gets actioned just after 31st march

trinidadone

ok, thanks.

First Utility are fighting hard to keep my business, sending me all sorts emails urging me to remain arrrrrrrrrrrrrrrrrrrrrrrrr

Hasbeen

I checked yesterday for son, currently with NPower

Tried Energyhelpline and Uswitch both said savings of £265/year going with Flow connect 6

I switch every time contract ends as there is always someone usually cheaper.

Currently with GB energy no exit fees.

I would suggest going for the savings!

Just had a look and topcashback site has "freepricecompare" cashback at about £30

molerat

You are now within the 49 day switch window, they cannot charge you a fee if you move. If you have found a better deal do it now. You do not have to wait until the end of your fix.

trinidadone

molerat wrote: »

You are now within the 49 day switch window, they cannot charge you a fee if you move. If you have found a better deal do it now. You do not have to wait until the end of your fix.

i am confused now, where did you get this information from?

molerat

You can switch without penalty within 49 days of your fix ending. It is the rules. Your energy company should have told you in the reminder they must send you between 49 and 42 days of the fix term ending.

trinidadone

thanks for letting me know, sadly no, my current energy supplier chose not to provide me with this information. I will now start the switch now

System

trinidadone wrote: »

thanks for letting me know, sadly no, my current energy supplier chose not to provide me with this information. I will now start the switch now

Energy suppliers are required by their supply licence to notify you within a 49 to 42 day window. Personally, I would wait until there is less than 6 weeks before starting any switch. I get the impression that FU are playing hard ball.

From the Ofgem website:
In addition to the Standards of Conduct, we have also introduced the following measures:

Should you choose to switch supplier, you no longer have to inform your current supplier that you intend to do so. Where you switch in the case of a price increase, even if this is after the date the price rise comes into effect, as long as you decide to switch soon after the increase and your switch to the new supplier is completed in a reasonable amount of time, you will not have to pay the higher rates.*”

If you signed up to a fixed term deal, on or after 15 July 2013, your supplier will not be able to increase the price. So ‘fixed means fixed’**.

You will receive a notice 42-49 days before the end date of your fixed term tariff to inform you that your tariff is coming to an end. Should you choose to switch after this point, suppliers can’t charge you a termination fee.

If you choose not to switch at the end of your fixed term tariff, you cannot be rolled onto another fixed term tariff with a termination fee. Instead you will be rolled automatically onto the cheapest standard tariff with your supplier.

trinidadone

my current contract expires 42 days time

Pagett

trinidadone wrote: »

I am currently with First Utility and have a fixed rate until 31st march 2016.

I have just gone onto the cheap energy club (Moneysavingexpert) and I have discovered I can save a £186.00 per year (£16.00 a month) switching to flow energy.

73% say its a great company.

Should I switch now? wait it out for any other companies to be added to the cheap enery club, or simply wait until after the 31st march 2016???

trinidadone wrote: »

i am confused now, where did you get this information from?

It says so on the Cheap Energy Club

My fix is ending, if I switch now will I be charged the early exit fee?

Energy suppliers are banned from charging exit fees when you have less than 49 days to go till the end of your tariff. These are rules set down by the energy regulator, Ofgem so suppliers do have to stick to them. So stay within these timeframes and you shouldn't be charged.

https://cheapenergyclub.moneysavingexpert.com/faq