How can I leave fix and go on Price Cap?

MWT

Ultrasonic said:

MWT said:

Ultrasonic said:

PRAISETHESUN said:

All you need to do is contact your provider and ask to be transferred to their SVT. Even if you weren't within your cooling off period, no exit fees means there's no cost to leave your current tariff.

Do suppliers have to allow this?

Yes, I believe so, the deemed tariff has to be available to those customers who have not selected any other tariff, so as long as the T&C allow you to terminate a fix without having to switch elsewhere, they have no choice other than to put a customer on the SVT.

I'm not aware of any supplier that has attempted to close that option, but always worth reading the T&C just in case...

I'm used to it being possible to end a fix to move to a different supplier (possibly paying exit fees) but staying with the same company is potentially different? As you say it will depend on the terms but just wondering if it was mandatory, since this is a little different to there having to be a deemed tariff if someone hasn't signed up to a fix.

I just read through 22C.7 in the SLC which covers the requirements for Fixed contracts, and the requirements are all linked to the end of the contract, without any conditions based on how it ended, so as long as the T&C do not limit the ability to terminate without switching, the supplier has no choice but to transfer the customer to the cheapest 'Evergreen' tariff, which would be the SVT.

The supplier can opt to move the customer to a default fixed tariff, but only if it is as cheap, or cheaper than the SVT.

molerat

Ultrasonic said:

pochase said:

If that was this week you will be in the 14 day cooling off period and you can cancel without penalties.

^  This.  

This was discussed on the MLMS this week and it is doubtful there is a right to a cooling off period for a mutually agreed in house contract variation.

Ultrasonic

molerat said:

Ultrasonic said:

pochase said:

If that was this week you will be in the 14 day cooling off period and you can cancel without penalties.

^  This.  

This was discussed on the MLMS this week and it is doubtful there is a right to a cooling off period for a mutually agreed in house contract variation.

Interesting distinction. I wonder why it should differ?

MWT

molerat said:

Ultrasonic said:

pochase said:

If that was this week you will be in the 14 day cooling off period and you can cancel without penalties.

^  This.  

This was discussed on the MLMS this week and it is doubtful there is a right to a cooling off period for a mutually agreed in house contract variation.

It may not be an explicit right, but many suppliers that have exit fees do offer a cooling of period.

Something to look for in the T&C

.. but there is a debate to be had about if it is a variation or a new contract though...

dippyuk

Thanks for all your help with this. I will speak to eon and see that they can do.

We are in crazy times at the moment and I am so used to switching and selecting the money saving option... now for the ones not on a good fixed deal, we are speculating on whether to sit on the PC or fix higher and see how the market moves.

chrissouthern10

How did you manage to get on with EON? I took out the same deal 3 days ago after missing the v11 and v12 deals being abroad. I’m unsure as to whether I’ve done the right thing after running the figures. I would like to think what others think of the V13 deal as I can’t seem to find much on it online. Thanks 

jbuchanangb

What I think of the EON.V13 deal can de determined from the following calculations:

Actual amount paid for electricity last 365 days £595.50 (3410 kWh, 365 days)

Cost of same amount of electricity at current rate: £775.76

Cost of same amount of electricity at April SVR: £1,109.46

Cost of same amount of electricity at EON. V13:  £1,538.30

MWT

jbuchanangb said:

What I think of the EON.V13 deal can de determined from the following calculations:

Actual amount paid for electricity last 365 days £595.50 (3410 kWh, 365 days)

Cost of same amount of electricity at current rate: £775.76

Cost of same amount of electricity at April SVR: £1,109.46

Cost of same amount of electricity at EON. V13:  £1,538.30

if possible it would be better to work it out based on expected use over the 6 months from April 1st (which will be less than 50% of the annual use) and then calculate the 6 months from 1st October on the basis of what you believe the increase then will be (low estimate 20%, high 40%).

Then see what that shows...

wild666

Astria said:

I accidentally clicked a link in an email EON sent me and it automatically put me on a fixed tariff like that one!

Jumped on the chat and told them I did it by accident and I didn't want the tariff, they put me back on the tariff I was on before.

Typically, that's all it takes in the first few weeks after selecting a fixed tariff.

Emails that contain a link that automatically signs the person up to a tariff ,MUST IMHO, clearly state in the email in bold large text that clicking on the link signs them up to the tariff. It would be better if no link was to automatically sign the person up to a tariff when a company sent an email but only to an option to sign up to the tariff in question.