For how long after my current tariff end date can I keep the same rate...

milgo

I think that I have seen the answer to this somewhere in another thread but have not been able to find it again at the moment.  In short, I am trying to extend my (cheaper) current rates for as long as is possible!

My current tariff (Avro - Simple and mPower12M) ends next month on the 30th June.  Currently, any new provider/tariff quotes (dual and single fuel) will be more expensive than this.

I believe (and stand to be corrected) that, if you instigate a switch away from your current provider, there is a period of time in which they have to honor your existing tariff, past the actual tariff end date until your switch away completes...Is this correct? Or have I got it totally wrong?

Thanks

Swipe

I believe they will honour the rate until the switch is complete so best to switch one or two days before your new higher price is due to kick in (assuming your better tariff will still be available). I think I saw on uswitch that you could specify a date to commence the switch but I could be wrong.

[Deleted User]

You need to play this one carefully. Switching works on a series of industry messages and data flows. If your old supplier receives an industry message that a switch is in progress no later than end of contract plus 20 days, then tariff price protection kicks in. The risks are these: one, not all suppliers are signed up to 17 days switching and some wait until after the 14 day cooling off period to initiate the transfer of supply (they have 35 days in which to takeover your supply) so you could luck out if you leave it too late. Two, your old supplier will switch you to their SVT at the end of the contract period and if you cannot show that you initiated a switch before the end of contract you might have a fight on your hands. Three, if your present supplier blocks the transfer or if there is a database issue and the switch doesn’t go through you will end up on the SVT until things are resolved (unless you agree to a new fixed term contract with your present supplier).

Assuming the planets are all in alignment then you should remain on your present tariff until the switch goes through (or you will move to the SVT and get a small credit for the tariff difference).

So is a delay worth it? In truth, probably not, as the difference in difference in fixed tariffs for a few days will not save you many £s.

merchcon55

Keep in mind that a deal available today (as you have less than 49 days left on your current deal, you could leave penalty free now, so no issue if you wanted to start a change now), may not (and probably won't be) available say if you wait until 28 June to apply for a new deal. The difference in what could happen to rates in a month may affect you more than trying to stretch out your current deal.

And keep in mind energy prices are rising at the moment - Bulb just announced a price rise today in fact.

As an example, I switched to Avro in Mid April - I could have waited 3 more weeks to stick with my former much cheaper deal, but saw a decent deal on Avro and decided to go for it - my start date was 3 days after my former deal ended, so for those 3 days I did in fact remain on the cheaper deal.

Had I waited 3 more weeks, the deal I signed up for ended and the new deal Avro replaced it with would have cost me £140 more for a year - a heck of a lot more than 3 weeks of "dearer" prices.

phillw

merchcon55 said:

Had I waited 3 more weeks, the deal I signed up for ended and the new deal Avro replaced it with would have cost me £140 more for a year - a heck of a lot more than 3 weeks of "dearer" prices.

It's a gamble of course as you could have waited and got a cheaper deal.

My feeling is that prices are going up, so I would switch as soon as the window opens but you won't know until it's too late to know if it was the wrong choice.

If you want to hedge your bet, you can aim for the cheapest fixed deal that has no leaving penalty (unless the cheapest fix with a leaving penalty is much cheaper).

Place Bets Now..... (BTW the energy companies are also gambling, if they win then you lose, if they lose badly enough then you lose).