What tariff rate?

I_am_spartacus

Hi Guys,
Can't see that anyone has asked this before, sorry for asking again if they have!


My question is this, I'm on a fixed tariff, if I apply to switch to another supplier on the actual date the fix ends, during the switch over will I be charged by my current supplier the "old" fixed rates or the standard variable rate during the switching process?


I hope my question makes sense, and thank you in advance for any replies,


All the best.

UnclaimedEnergy

If you're still with your current provider (and the switch hasn't completed) after your Fixed end date, then you will be moved onto a SVT rate until the switch is completed.

Normally if you're within a month of your end date your currently supplier shouldn't apply any exit fees to cancel the fixed contract early, however it's best to check the T&Cs of your tariff.

Streaky_Bacon

You will pay the fixed rate during the switching period.

Under Standard Licence Conditions 24.8, 24.9 and 24.10, if the new supplier notifies the old supplier of the switch within 20 working days of the end of the fixed term, and then the switch completes in a "reasonable period of time", the customer continues paying the original fixed rate until the switch completes.

24.9 In relation to each Fixed Term Supply Contract, unless the Domestic Customer has entered into a new Fixed Term Supply Contract with the licensee or paragraph 22C.5 of standard condition 22C applies, the licensee must ensure that where paragraph 24.10 applies a Domestic Customer will continue to be subject to the same Charges for the Supply of Electricity and the same terms and conditions (but not any Termination Fee) that applied to that Fixed Term Supply Contract until they have changed their supplier.

24.10 This paragraph applies where one of the following conditions are satisfied:

(a) no later than 20 Working Days after (but not including) the date on which the fixed term period of a Fixed Term Supply Contractends, the licensee receives Notice under the Master Registration Agreement that another Electricity Supplier will begin to supply the Domestic Customer’s Domestic Premises within a reasonable period of time

I_am_spartacus

Hi Streaky Bacon,
Thats what I was hoping!


The 18 month fixed rate ending was a good price, and all the comparison sites at present show quite a hike, I suppose thats the draw back with switching during the most expensive time of year!


My Baldrick style "cunning plan" is to remain on the fixed rate price for as long as possible (hence the question) then to switch to the best avaliable 1 year contract with no exit fees, and then keep an eye on the market for a decent 18-24 month fix (I prefer the long fixes!) and jump ship hopefully sometime during the spring / summer.


Thank you for your prompt reply to my question, take care, Spartacus.

Streaky_Bacon wrote: »

You will pay the fixed rate during the switching period.

Under Standard Licence Conditions 24.8, 24.9 and 24.10, if the new supplier notifies the old supplier of the switch within 20 working days of the end of the fixed term, and then the switch completes in a "reasonable period of time", the customer continues paying the original fixed rate until the switch completes.

Smodlet

If you ever need to duck exit fees, Bulb are the place to go (for now; who knows what will happen in the future?) Apparently, they pay exit fees up to £60 (from memory) and do not charge exit fees themselves so are very useful if you want to switch when your tariff still has more than 49 days to run.

I am sure they will cotton on soon enough but why not make hay while the sun shines? There is even a referral thread on here somewhere where you can find links to get cashback for yourself and the referrer (£50, last time I looked) I have never been a Bulb customer so am not touting.

sevenhills

I_am_spartacus wrote: »

Hi Streaky Bacon,
Thats what I was hoping!

Although that is what is quoted, I am very surprised, I would have thought suppliers would make more money by customers switching, when they end up on their variable rate for a few weeks.
If their fixed contract is extended, they will make less money.


I know you can switch a around month before your contract is up.

clochi

I_am_spartacus wrote: »

Hi Guys,
Can't see that anyone has asked this before, sorry for asking again if they have!


My question is this, I'm on a fixed tariff, if I apply to switch to another supplier on the actual date the fix ends, during the switch over will I be charged by my current supplier the "old" fixed rates or the standard variable rate during the switching process?


I hope my question makes sense, and thank you in advance for any replies,


All the best.

As it's only a tariff transfer, they should be able to sort it all out for you whilst you are on the phone

Who's the supplier?
Many will allow you to apply early i.e. within the 49 day switching window, and arrange the start of the new tariff to follow on after the expiry of the old.