When does cooling off period start

paullubs71

Hi

I've just signed up to a new fixed tariff with Out Fox the Market and I'm waiting to see what the government does in regards to helping with utilities costs, but I'm confused when the cooling off period starts. Is it
1) from the date I agreed the new tariff e.q 28th August,or
2) from the date when my new tariff starts e.g 30th September as I'm currently on a fixed tariff which ends on the 29th September?

I've called OFTM twice and both times I was told that the 14 days starts from the date which the contract starts but I'm not 100% convinced by them. Their T&Cs say 
"Cooling Off Period The period of time following sign up to us when you may choose to cancel your contract" which indicates the sign up date rather than the supply date.

Any advice or thoughts 
Thanks in advance

QrizB

From signup, so from the 28th of August.

MWT

paullubs71 said:

Any advice or thoughts 

Can you post the rates for this fixed tariff? I've not seen anything from OFTM recently that didn't look extremely expensive, but perhaps they have changed...

PennineAcute

Date you signed the contract (or agreed to the contract) is Day 0.  14 days later is day 0 plus 14 days.

paullubs71

MWT said:

paullubs71 said:

Any advice or thoughts 

Can you post the rates for this fixed tariff? I've not seen anything from OFTM recently that didn't look extremely expensive, but perhaps they have changed...

Renewal offer:

Electricity £0.618 per kwh
Standing charge £0.490 per day
Gas £0.192 per kwh
Standing charge £0.328 per day

My annual usage is
Electricity 2622 kwh per year
Gas 16832 kwh per year

New forecast annual spend £5,158.57

Current tariff 

I'm currently paying until 20th September 
Electricity £0.205 per kwh
Standing charge £.270 per day
Gas £0.037
Standing charge £0.307
Totland annual cost £1,368.53

paullubs71

PennineAcute said:

Date you signed the contract (or agreed to the contract) is Day 0.  14 days later is day 0 plus 14 days.

This was my understanding as well. I've email the supplier to also get an answer

N_Pars

paullubs71 said:

Hi

I've just signed up to a new fixed tariff with Out Fox the Market and I'm waiting to see what the government does in regards to helping with utilities costs, but I'm confused when the cooling off period starts. Is it
1) from the date I agreed the new tariff e.q 28th August,or
2) from the date when my new tariff starts e.g 30th September as I'm currently on a fixed tariff which ends on the 29th September?

I've called OFTM twice and both times I was told that the 14 days starts from the date which the contract starts but I'm not 100% convinced by them. Their T&Cs say 
"Cooling Off Period The period of time following sign up to us when you may choose to cancel your contract" which indicates the sign up date rather than the supply date.

Any advice or thoughts 
Thanks in advance

Is it likely the government will help any further? 
Sorry, just curious what people think as I have been worrying about the increase😅

paullubs71

I personally think that they will do but I don't know if it will be in the form of a direct payment to customers or they will provide loans to the energy suppliers so that they can reduce the cap on prices.

paullubs71

It looks like it's going to be loans to energy companies.  I think I'll be cancelling my new contract and go back to capped rates.