Gas and Electric Switch

Telhearne

Hi All,


My current deal ends at the end of May with a £60 exit fee.


I would like to switch but I obviously don't want to pay the fee. If I sign up to another provider now can I tell them to delay the switch?


Thanks

TadleyBaggie

From USwitch:

In accordance with Ofgem regulations, suppliers must send you notice about your plan's upcoming end date 42 - 49 days before the end of your plan . This allows time to find and switch to a new plan before you're rolled on to your supplier's "standard" plan, which is often much more expensive.

Once you receive this letter, you are free to switch without penalty, even if the plan carries early exit fees (cancellation fees).

System

Provided your old supplier is informed, via industry procedures, that a transfer is in progress no later than the end of contract date plus 20 days, you have price protection. That is, you remain on your present tariff until the transfer goes through.

AndyPK

I tried to enforce this with nPower a year ago, but they acted dumb.

They did however give me a good will payment, which was worth more to me.

woodentom

i asked this a while ago. so i can save 25% by switching for a 1st may renewal and my current providers letter says £30 exit fee per fuel but last year there was no mention of this

if i switch now ready for 1st may will they charge me £60 and then i have to fight them for that back?

what actually happens?

thanks

System

woodentom wrote: »

i asked this a while ago. so i can save 25% by switching for a 1st may renewal and my current providers letter says £30 exit fee per fuel but last year there was no mention of this

if i switch now ready for 1st may will they charge me £60 and then i have to fight them for that back?

what actually happens?

thanks

If you initiate a transfer once you have received the 49/42 day notification then the Supply Licence prevents the supplier from charging an exit fee. If they do, then raise a written complaint.

How have you calculated a 25% saving when energy prices have increased?

woodentom

Hengus wrote: »

If you initiate a transfer once you have received the 49/42 day notification then the Supply Licence prevents the supplier from charging an exit fee. If they do, then raise a written complaint.

How have you calculated a 25% saving when energy prices have increased?

thanks for the clarification. I just went to uswitch, typed in all my figures and it stated EON would be over £230 cheaper than the new tariff offered by my current provider.

i tried the readings from the latest bill and the current annual costings and both times the EON quote was a lot less

i have not done this before so if i am missing something please let me know

System

woodentom wrote: »

thanks for the clarification. I just went to uswitch, typed in all my figures and it stated EON would be over £230 cheaper than the new tariff offered by my current provider.

i tried the readings from the latest bill and the current annual costings and both times the EON quote was a lot less

i have not done this before so if i am missing something please let me know

It is not that simple. PCWs use an Ofgem- approved inflated cost methodology based on a rolling 12 month cost projection. For a consumer on a fixed tariff with 2 months to run, the cost going forward is based on 2 months on present fixed tariff plus 10 months on the supplier's SVT. It is therefore possible to choose a new tariff which appears to show a saving but one which actually costs you more.

In my view, you are better off using the tool in MSE Cheap Energy Club which compares 12 months on your present tariff against 12 months on a list of tariffs with the cheapest first. To be meaningful, all comparisons must be based on kWhs/year and not £s.

PS Why choose E.oN? There are some very good small suppliers out there. I am with Zog for gas and Octopus for electricity. The latter offers you £50 if you use a referral link.

Sosumi

Hengus wrote: »

PS Why choose E.oN? There are some very good small suppliers out there. I am with Zog for gas and Octopus for electricity. The latter offers you £50 if you use a referral link.

Possibly because, for woodentom, Octopus Energy’s current offering is £101 a year more expensive than E.ON’s current v11 one-year offering for dual-energy, and £48 a year more expensive for electricity only. (As these would be for me, in my region and with my consumption.)

Octopus, furthermore, does not offer the additional £140 per annum Warm Home Discount that E.ON does.

ENGIE doesn’t (yet) offer the Warm Home Discount either, but, for me, its electricity-only 2-year fix would be the same price as Octopus Energy’s 1-year fix and its electricity-only 3-year fix would be just £26 more!

You’ve fallen into the Elephant Trip of forgetting how greatly regionality and individual consumption can skew the actual cost to the consumer of any given tariff.

Let alone the ambush of forgetting whether or not Warm Home Discount might apply.

System

Sosumi wrote: »

Possibly because, for woodentom, Octopus Energy’s current offering is £101 a year more expensive than E.ON’s current v11 one-year offering for dual-energy, and £48 a year more expensive for electricity only. (As these would be for me, in my region and with my consumption.)

Octopus, furthermore, does not offer the additional £140 per annum Warm Home Discount that E.ON does.

ENGIE doesn’t (yet) offer the Warm Home Discount either, but, for me, its electricity-only 2-year fix would be the same price as Octopus Energy’s 1-year fix and its electricity-only 3-year fix would be just £26 more!

You’ve fallen into the Elephant Trip of forgetting how greatly regionality and individual consumption can skew the actual cost to the consumer of any given tariff.

Let alone the ambush of forgetting whether or not Warm Home Discount might apply.

I have not fallen into any traps. I am fully aware of regional variations etc. If E.oN has come out cheapest for the poster then so be it: all I am suggesting is that separate suppliers can often work out cheaper.

AndyPK

Eon has a good electric deal at the moment. Especially for high users.


Best thing to do is put your switch in, 49 days before your tariff is due to end. This will give sufficient time to sort out any problems that will arise. (too common!)