switch during a switch?

Chin

hi all

QQ, what happens if you switch supplier during a current energy supplier switch?

for example i'm on the collective and going to switch any day now, but what would happen if i initiate the switch and then a new collective or cheaper deal comes out whilst i am mid-way through switching?

i'm looking at suppliers with no exit fees anyway so no problem in that sense - but i reckon there would be mass confusion if i tried doing two switches right?

System

Chin wrote: »

hi all

QQ, what happens if you switch supplier during a current energy supplier switch?

for example i'm on the collective and going to switch any day now, but what would happen if i initiate the switch and then a new collective or cheaper deal comes out whilst i am mid-way through switching?

i'm looking at suppliers with no exit fees anyway so no problem in that sense - but i reckon there would be mass confusion if i tried doing two switches right?

You have the right to cancel if you send the supplier written notification within the 'cooling off' period. However, with 17 day switching, transfers are started within the 'cooling off' period. When a customer decides not to proceed with the contract, the transfer has to be reversed back to your old supplier. Complicating matters by switching again once the transfer is going through is likely to cause problems but it is legally allowable.

What are you actually trying to achieve? If you believe that MSE is going to come up with a collective offer that undercuts the cheapest tariffs on the market, I fear that you are in for a big disappointment. Suppliers are looking at different ways of gaining and retaining customers outwith the old PCW collective model.

Chin

thanks - i did fear it would lead to absolute chaos so not worth the risk.

do you not think there will be another collective switch then? or do you believe that even if there is one it won't be as cheap as some of the new smaller independent players (Bulb, Tonik, etc.?)

System

Chin wrote: »

thanks - i did fear it would lead to absolute chaos so not worth the risk.

do you not think there will be another collective switch then? or do you believe that even if there is one it won't be as cheap as some of the new smaller independent players (Bulb, Tonik, etc.?)

You clearly do not follow the market. There have been a number of Collective switches initiated by MSE and Energyhelpline over the past 12 months. They have not offered the market-leading types of deal that was offered 12 months ago. Why? Following the CMA Report in the domestic energy market, Ofgem has taken the shackles off suppliers with the aim of promoting even more competition. Ofgem has also licensed more suppliers. Small suppliers, as a rule, do not offer referral fees and they do not pay for the the Warm Home Discount. It follows that these suppliers tend to offer market-leading prices.

A number of suppliers have also said publicly that they will not be participating in any future collective auction bids. Rather than pay PCW referral fees, they are now agreeing deals with cash back sites and/or offering existing customers the referral fee if they can attract new customers (Bulb and Tonik) come to mind.

MSE may still pull a rabbit out of the bag. My view is that a deal in hand is probably better than one which does not happen. Try looking at separate suppliers: these are where the cheapest deals can be found.

molerat

Almost all of the collectives of late have been a bit of a damp squib, unless you were on SV tariffs, and most of them have been beaten by openly available tariffs. The only good one I have seen lately was the EnergyHelpline for gas only through SSE and that was only slightly better than open market.