Selling house - Pause Energy Supplier account?

Whitey0120011

Hi,

I'm after a little advice from somebody who knows a little bit more about Energy suppliers than I do. I know very little!!!!

I was switched to British Gas as my provider went out of business (Peoples Energy) and the tariff I was put on (Peoples Energy) is about to expire. I am selling my house and buying a brand new house. It won’t be ready until October and Will be living with family until it is ready. If I fix there will be a £150 fee to exit. BG says I can but a cap on my account and just pay the standing charge while I wait for my new house to be ready. I'm a bit frustrated by this as I will have nothing to supply.

I'm wondering whether I should fix my tariff I'm being offered a Loyalty Jun 23v3 tariff:
Elec: 35.723p per kWh | Standing Charge 43.398p
Gas: 10.361p per kWh | Standing Charge 29.959p  

This is obviously more than my current tariff. I'll be paying £70ish more per month.

My main question is should I fix now? Or should I risk it and stay on the variable rate and close my account when I sell my house and set up with a new provider when I move into my new house in October?

I hope that makes sense and somebody is able to offer any advice on this. Thanks Neil

TheMilkmansDad

Just stay on the variable as this will be lower than any fix offered now. When the property has been sold, provide your supplier with date and meter readings so they can provide final bill.

When you move into the new property get the meter reads (take them yourself with a picture in case any queries)  and date and inform the current supplier the relevant details. Not knowing what fix rates will be offered then means it will probably be best to stick on the SVR to start with.

Additional thing to note is ensure you are being billed for the correct meter(s) as it's a new build (from what I can gather anyway!), check the meter serial number on the bill to the one supplying your property both match. 

Good luck in the property move.

QrizB

Welcome to the forum.

Whitey0120011 said:

I am selling my house and buying a brand new house. It won’t be ready until October and Will be living with family until it is ready.

If you're about to sell your current house, I can't see why you would want to take a fixed-rate tariff. When you move out you'll close your account and lose whatever fix you've taken. You might also end up having to pay the £150 exit fee.

Whitey0120011

QrizB said:

Welcome to the forum.

You might also end up having to pay the £150 exit fee.

Hi, thanks for your reply. British Gas said they would be able to put a cap on the account, so I was only charged the standing charge. My concern is if I keep it flexible and close the account, and when I take out a new supply in the new house in October time, the tariffs might be a lot higher, and it would have been worth my fixing it now and just pay the standing charge each month??

Whitey0120011

TheMilkmansDad said:

Just stay on the variable as this will be lower than any fix offered now. When the property has been sold, provide your supplier with date and meter readings so they can provide final bill.

When you move into the new property get the meter reads (take them yourself with a picture in case any queries)  and date and inform the current supplier the relevant details. Not knowing what fix rates will be offered then means it will probably be best to stick on the SVR to start with.

Additional thing to note is ensure you are being billed for the correct meter(s) as it's a new build (from what I can gather anyway!), check the meter serial number on the bill to the one supplying your property both match. 

Good luck in the property move.

Great thank you.

pochase

Whitey0120011 said:

QrizB said:

Welcome to the forum.

You might also end up having to pay the £150 exit fee.

Hi, thanks for your reply. British Gas said they would be able to put a cap on the account, so I was only charged the standing charge. My concern is if I keep it flexible and close the account, and when I take out a new supply in the new house in October time, the tariffs might be a lot higher, and it would have been worth my fixing it now and just pay the standing charge each month??

You can't transfer your tariff to your new house. BG will not allow you to do so.

So if you take out a fixed tariff with them with an exit fee, you will have to pay the exit fee and still have SVT in the new house.

Also you need to go with the current supplier first before you can change suppliers after three weeks.

Alnat1

The builders will have arranged a supply at the new property and you will have to open an account with whichever company they have contracted at first. Once that's all set up and running (21 days?) you are free to switch to any supplier and tariff you want.

Robin9

@Whitey0120011

In reality you will be using more than the standing charge at your old property  -  security lighting, burglar alarms, some lights as you visit ,  estate agents and surveyors...   

Whitey0120011

pochase said:

You can't transfer your tariff to your new house. BG will not allow you to do so.

So if you take out a fixed tariff with them with an exit fee, you will have to pay the exit fee and still have SVT in the new house.

Also you need to go with the current supplier first before you can change suppliers after three weeks.

Oh, British Gas said I could! I'm probably going to stick with the variable rate and close my account when I sell the house.

Gerry1

As it's a new build, try the Meter Sanity Test when you move in.

pochase

Whitey0120011 said:

pochase said:

You can't transfer your tariff to your new house. BG will not allow you to do so.

So if you take out a fixed tariff with them with an exit fee, you will have to pay the exit fee and still have SVT in the new house.

Also you need to go with the current supplier first before you can change suppliers after three weeks.

Oh, British Gas said I could! I'm probably going to stick with the variable rate and close my account when I sell the house.

Only supplier I was aware of that would allow you to transfer fixed tariffs recently was EDF, and they have now stopped also.

But seems BG really still allows you to do so

https://www.britishgas.co.uk/moving-home/making-changes.html