Fixed rate ending - right of extension if switching?

gwapenut

Sorry if I've got this wrong as I cannot find anything to back it up, but I seem to recall hearing in the past that when your fixed rate tariff is coming to an end, in addition to your supplier notifying you many weeks in advance and there being no switching penalty in the final 6 or 7 weeks, there is also an additional option.

My recollection is that as long as you notify them you are switching before the fixed rate deal ends - eg 1 day before? - then you can stay on that fixed rate tariff while the switch is progressing, beyond the contracted fixed rate end date.

But I cannot find anything which backs up this recollection. Am I wrong? If not, can anyone point me towards the documentation?

Thanks!

youravinalarrrf

[FONT=&quot]Some suppliers such as EON for example offer what they call a Price Protection window which opens 49 calendar days before a fixed tariff ends until 20 working days after and provided the new supplier informs the existing supplier about the switch before the contract end date your existing fixed tariff prices are protected and remain the same until the switch completes.

Other suppliers do not offer this option and will automatically transfer you on to their variable rate tariff when your existing contract expires until the switch completes. This is often far more expensive than your contracted fixed price tariff for the period until your switch completes.

You need to contact your existing supplier and find out what will happen in your particular circumstances.
[/FONT]

gwapenut

Thanks, I'm with eon so this sounds very useful

footyguy

gwapenut wrote: »

Sorry if I've got this wrong as I cannot find anything to back it up, but I seem to recall hearing in the past that when your fixed rate tariff is coming to an end, in addition to your supplier notifying you many weeks in advance and there being no switching penalty in the final 6 or 7 weeks, there is also an additional option.

My recollection is that as long as you notify them you are switching before the fixed rate deal ends - eg 1 day before? - then you can stay on that fixed rate tariff while the switch is progressing, beyond the contracted fixed rate end date.

But I cannot find anything which backs up this recollection. Am I wrong? If not, can anyone point me towards the documentation?

Thanks!

In the past, you had to remain on your fixed term tariff until the last day or you could become liable for early exit fees.
When that was the rule, if you, before that last day, advised your supplier of your intention to switch supplier thereafter, then you could ask to remain on the existing tariff (despite it theoretically having expired) until such switch occurs (terms applied e.g. over how long it then took)

Then Ofgen changed the rules.

Nowadays you are told 49-42 days before the expiry of your tariff that it is coming to an end, and you cannot be charged an early exit fee if you apply to switch
Switching is now possible with many suppliers within 17 days of application, and in any event within 5 weeks (i.e. 35 days)
http://www.moneysavingexpert.com/news/utilities/2015/01/energy-switches-now-possible-in-17-days-but-not-for-all-suppliers

Some suppliers may still allow for you to remain on your tariff past the end date if they are advised of the intention to switch before that end date. But today, that notice needs to come from the new supplier.

You need to check the terms of your current supplier if they allow this extention, as not all do it appears. If they do, terms will apply e.g. over how long they are prepared to wait for the switch to occur.

gwapenut

Thanks guys, that explains why I couldn't find it on the web.

For reference, the information was at the very end of the lengthy eon "it's time to switch" email I received (gmail got bored displaying it all and only showed it when I viewed entire message).

What's interesting is that my tariff ends on 27 Feb, but they say I have until 27 March for my new supplier to contact them.

Thus, as my old prices are so much cheaper, it seems to make sense to wait until as late as possible (eg 1st March) before switching, or until the fixed rates I want start disappearing.

If you switch supplier
If you decide to switch supplier, we won't charge an exit fee. We'll also keep you on your old prices unless our new prices are cheaper for you, as long as:
- Your new supplier lets us know by 27 March 2017. Your new supplier won't contact us until the end of your 'cooling off' period which could be up to 14 days.
- Your switch is finished within six weeks.
If you owe us money we might object to you leaving us. But we'll still keep you on your old prices unless our new prices are cheaper for you, as long as:
- You pay us what you owe within 30 working days of us telling you we're objecting to your switch; and
- Your switch is finished within six weeks.

footyguy

gwapenut wrote: »

Thanks, I'm with eon so this sounds very useful

Yes, Eon are one company that allow an extention, as explained in their terms & conditions
e.g. https://www.eonenergy.com/for-your-home/products-and-services/Tariff-terms-and-conditions/EON-MSE-Fixed-1-year-Collective-Elec-Only-Feb-2016
Section 14.3

footyguy

gwapenut wrote: »

...
Thus, as my old prices are so much cheaper, it seems to make sense to wait until as late as possible (eg 1st March) before switching, or until the fixed rates I want start disappearing...

This is exactly the risk you take by delaying. Prices are rising, and tariffs are being withdrawn to new applicants almost every day.
The saving you may make by being on an old tariff for a few more says may easily be outwighed by the loss of access to a currently available tariff, and hence you having to pay more for possibly a year or more.

You usually are not made aware the tariff is disappearing, until it has disappeared

gwapenut

I agree, but there are a few still available at the same level for me, and I'm also waiting, not very hopefully, for the results of a collective switch at the end of next month. Not sure those results will appear in time though.

footyguy

gwapenut wrote: »

I agree, but there are a few still available at the same level for me, and I'm also waiting, not very hopefully, for the results of a collective switch at the end of next month. Not sure those results will appear in time though.

I'm not sure which collective switch you have your hopes pinned on. A lot can happen in 6 weeks.

In my experience, not many of the collective tariffs have been very competitive recently. At least MSE gave the morals to say they won't even publish them unless they save the average user some money.
(MSE failed to publish the last one they tried for for this very reason)

I'd suggest you consult a comparison site and find the best deal for you today, and apply.

If, later, a more beneficial offer turns up, possibly as a collective tariff, then you can always apply to switch again. If it is via someone like MSE, then the cashback will offset half of the average early exit fess you may incur, if applicable, and if the savings don't make up for the remaining half, I wouldn't bother with switching again so soon.

Former_E.ON_Company_Representative:_Malc

gwapenut wrote: »

Sorry if I've got this wrong as I cannot find anything to back it up, but I seem to recall hearing in the past that when your fixed rate tariff is coming to an end, in addition to your supplier notifying you many weeks in advance and there being no switching penalty in the final 6 or 7 weeks, there is also an additional option.

My recollection is that as long as you notify them you are switching before the fixed rate deal ends - eg 1 day before? - then you can stay on that fixed rate tariff while the switch is progressing, beyond the contracted fixed rate end date.

But I cannot find anything which backs up this recollection. Am I wrong? If not, can anyone point me towards the documentation?

Thanks!

gwapenut wrote: »

Thanks, I'm with eon so this sounds very useful

gwapenut wrote: »

Thanks guys, that explains why I couldn't find it on the web.

For reference, the information was at the very end of the lengthy eon "it's time to switch" email I received (gmail got bored displaying it all and only showed it when I viewed entire message).

What's interesting is that my tariff ends on 27 Feb, but they say I have until 27 March for my new supplier to contact them.

Thus, as my old prices are so much cheaper, it seems to make sense to wait until as late as possible (eg 1st March) before switching, or until the fixed rates I want start disappearing.

If you switch supplier
If you decide to switch supplier, we won't charge an exit fee. We'll also keep you on your old prices unless our new prices are cheaper for you, as long as:
- Your new supplier lets us know by 27 March 2017. Your new supplier won't contact us until the end of your 'cooling off' period which could be up to 14 days.
- Your switch is finished within six weeks.
If you owe us money we might object to you leaving us. But we'll still keep you on your old prices unless our new prices are cheaper for you, as long as:
- You pay us what you owe within 30 working days of us telling you we're objecting to your switch; and
- Your switch is finished within six weeks.

Morning gwapenut and already some excellent advice on here. Thanks all. Thought I'd pop on and confirm what happens to your tariff when you switch away from us.

As youravinalarrrf says, for customers on fixed deals, we've a Price Protection window. This is open 49 calendar days before a tariff ends until 20 working days after. Provided the new supplier contacts us to apply to take over during this period, we'll keep you on the cheaper prices whilst the switch goes through. This will be up to the supply end date. Exit fees also don't apply once inside the window.

This fits in with the dates advised in our email. As your tariff ends on 27 February 17, the 20 working days will be up by 27 March 17.

Where suppliers have signed up to Faster Switching (most have but there are exceptions), the supply will transfer in about two and a half weeks. If they haven't, the switch could take up to 5 weeks. Just to let you know, should the new supplier fail to request the account within the time frame above, our standard prices will apply from the tariff end date.

Hope this explains gwapenut. Let me know if you need any more information as happy to help.

Malc

Former_E.ON_Company_Representative:_Malc

youravinalarrrf wrote: »

[FONT=&quot]Some suppliers such as EON for example offer what they call a Price Protection window which opens 49 calendar days before a fixed tariff ends until 20 working days after and provided the new supplier informs the existing supplier about the switch before the contract end date your existing fixed tariff prices are protected and remain the same until the switch completes.

Other suppliers do not offer this option and will automatically transfer you on to their variable rate tariff when your existing contract expires until the switch completes. This is often far more expensive than your contracted fixed price tariff for the period until your switch completes.

You need to contact your existing supplier and find out what will happen in your particular circumstances.
[/FONT]

Spot on as ever youravinalarrrf. Thanks for that.

Malc