Exit fees - am I definitely safe to switch?

martyp

Sorry, I've only switched for the first time for the BG collective switch so not 100% on this but...

I understand if within 50 days of my tariff ending I can switch?
At the moment if the BG Collective Switch ends on the 28th Feb then that's 45 days away. Just to confirm also it's when that particular tariff finishes and not a year from the point I switched over to them (March)?
Also is it the point that you request to switch to another supplier or the point that you actually go across to them that this refers to?
I was just a bit cautious as I read that you can do it from the point you get a letter from your supplier within 42 to 49 days (which I don't have).
So just to be sure I don't have to wait for this communication and I definitely won't get charged.

Neil_Jones

49 days is 49 days from the end of the tariff. If it ends on Feb 28th you can switch exit-fee free from 49 days before that, which is the 10th of January so you are in the window.

System

Personally, I would wait until you receive notification from BG that your fixed term contract is coming to an end. The Supply Licence Condition is that this has to be sent in the period 49 to 42 days before contract end.

22C.4 The licensee must:

(a) provide a Domestic Customer with a copy of the SLC 22C Statement of Renewal Terms which complies with paragraph 22C.3 no earlier than 49 days and no later than 42 days before the fixed term period of their Fixed Term Supply Contract is due to end;

martyp

Excellent, thanks both. I wanted to switch to Iresa as soon as it was definitely safe to do so as the exit fees would outweigh the benefit of switching in my case.

martyp

This might be a useful resource I just found too:
https://www.ukpower.co.uk/cancellation-fees

I take it also that energy suppliers will choose to hide the escape 50 days before end clause as I noticed this in my contract e-mail from British Gas:

"If you decide to cancel
If you switch to another energy supplier before 28th February 2017 we’ll charge you an exit fee of £30 for electricity and £30 for gas.
If this happens, we’ll collect these fees before any other amounts you owe us, either from payments you make or from your credit balance."

System

martyp wrote: »

Excellent, thanks both. I wanted to switch to Iresa as soon as it was definitely safe to do so as the exit fees would outweigh the benefit of switching in my case.

If you are switching to Iresa you can probably safely do so now. Iresa is not signed up to 17 day switching so it takes no action during the 14 day cooling off period.

martyp

Thanks Hengus, I was keen to get the lower priced Flex3 as comparison sites seem to only be showing Flex4.

System

martyp wrote: »

Thanks Hengus, I was keen to get the lower priced Flex3 as comparison sites seem to only be showing Flex4.

Looking at Iresa's website, Flex 3 appears to have been withdrawn.

martyp

Hengus wrote: »

Looking at Iresa's website, Flex 3 appears to have been withdrawn.

I just checked and saw, so disappointed
Now in my case my league table is as follows:

Current deal (BG Collective switch) - £538.12/£44.84
Iresa3 (missed) - £583.41/£48.62
Iresa4 - £612.40/£51.03
Co-op - £616.96/£51.41 (that's taking the cashback into account)

Then with having elec and gas with different suppliers and no exit fees:
Robin Hood & Zog - £613.79/£51.15

If I were to take Gas with SP though (which has an exit fee) it would be:
£589.74/£49.14 (includes cashback for switching to SP too)

System

I can recommend Zog. It is by far the best supplier that I have dealt with over the past 2 years. No frills. Give them meter readings whenever you like ( but also give them one on the last day of each month) and a statement arrives 5 days later. E-mails answered in minutes.