Waiting until after General Election to change supplier?

[Deleted User]

someanonbloke wrote: »

Now the government are promising to take 'decisive action' to cap the energy companies once the election has finished.

Are you that naive that you believe what politicians promise you before a general election? I have more trust in Hilaire Belloc:
Here richly, with ridiculous display,
The Politician's corpse was laid away.
While all of his acquaintance sneered and slanged
I wept: for I had longed to see him hanged.

sheff6107

I think you only have to look at the 'fixing the broken housing market' white paper too see how effective the current government is with such things.

phillw

Hengus wrote: »

Most pundits believe that the Government will place a cap on the Standard Variable Rate that suppliers can charge. There is no suggestion that the Government will do anything to reduce energy prices - unless they decide once again to remove some of the Govt-imposed green levies.

The last I heard was that the government would instruct ofgem to calculate regional maximum prices and the energy companies would have to adhere to it.

When government interferes then there is usually a small decrease in SVR and a large increase in fixed tariffs. If you're planning on getting a fixed tariff then now is the time.

teddysmum

Legislation made a mess of the broadband/phone market by enforcing combined prices and giving suppliers a chance to sneak in a price increase (so only those too stupid to realise that a super price offer on internet would have strings have 'gained' )


By limiting the difference between standard and fixed energy tariffs , they are just making things more difficult for those already taking fixes, as to achieve a smaller difference, the energy companies will just cut discounts on fixes.


We could end up being required to tie ourselves into fixes which cost very little less than standard rates , which require no commitment (rather like fixed rate, fixed term ISAs being useless.)

sheff6107

There is a spread of about £700 on the comparison sites between the cheapest and the dearest for me.

If you put in a cap it just means the spread may come down to £500, so you're just eliminating the dozy people who are paying way over the odds and leaving the majority still overpaying.

MattE9

My current fixed term dual fuel tariff ends on 30 June 2017 (£30 penalty each fuel for early exit).
I already know which supplier I wish to go to but is now too early to make the online switch?
I want to switch so I don't pay a penalty or risk going into the variable rate after 30 June.

Thanks

[Deleted User]

@MattE9
You need to wait until less than 49 days to go to the end of the current fix. Your current supplier should tell you that you are free to move without penalty between the 49th day and the 42nd.

MattE9

Thanks. Sounds like I can make the switch any time from Friday 12 May.