What happens to EDF Fix Total Service Jul24v3 when prices Freeze

Inigo_Montoya

The_Green_Hornet said:

xzibit said:

BG and Eon customers are free to move back to the SVT without penalty and any time. Surely EDF will be the same?

No, T&Cs state that you pay the exit fee even if you are moving on to a different tariff unless you are within 49 days of the end of the fix.

My BG fixed rate terms say I can move to another BG tariff without the penalty charge

I only get charged £100 penalty for moving to another supplier

The_Green_Hornet

Inigo_Montoya said:

The_Green_Hornet said:

xzibit said:

BG and Eon customers are free to move back to the SVT without penalty and any time. Surely EDF will be the same?

No, T&Cs state that you pay the exit fee even if you are moving on to a different tariff unless you are within 49 days of the end of the fix.

My BG fixed rate terms say I can move to another BG tariff without the penalty charge

I only get charged £100 penalty for moving to another supplier

I was referring to EDF T&Cs.

xzibit

The_Green_Hornet said:

xzibit said:

BG and Eon customers are free to move back to the SVT without penalty and any time. Surely EDF will be the same?

No, T&Cs state that you pay the exit fee even if you are moving on to a different tariff unless you are within 49 days of the end of the fix.

Oh they must vary the T&Cs between tariffs then. Mine states under ‘if you want to cancel’ that ‘if you move to another tariff with us, then there are no exit fees’.

I also have a copy of the chat I had with them when I asked specifically whether I could move back to the SVT at any time without penalty and they confirmed this was the case. 

So perhaps it’s a case of having to check your own terms. I wouldn’t have fixed it I couldn’t have gone back to the SVT without penalty. 

Neil_Jones

funny.money said:

I find some on these forums can be really rude,  I've had personal experience of it and I shall be putting my tin hat on as I'm sure more will follow. 

The thing that is increasingly annoying are the - 'nobody forced you,  it was your choice, you're an adult, you should've known what you were doing etc, etc' - endless, pointless,  comments. 

(Overall I feel these barbs are directed at those of us who did fix and not so much from us to the ones who didn't.)

Yes,  they're all true,  but we don't need to keep being told over and over again.  We're all in the same boat as far as the energy prices are concerned and all of us,  whether we fixed or stayed on the variable, did what we thought was for the best for ourselves. 

It's just my view but I don't think any of us should be penalised for making whatever decision we made, as all of us are just trying desperately to do the right thing.  And,  as others have said, none of us should ever have been put into this situation in the first place. 

I may end up losing money because of my fix,  but I've got three adult children, with families,  who will benefit if the cap is frozen, I'm sure I'm not the only one in this situation.

There is no 100% correct decision with regards to energy at this time.  Somebody was going to lose.

Initially it looked like the fixers were going to "win" with a rate well under the new energy cap, and now it looks like the SVR's are going to "win".  The devil may be in the detail but this is the way things are.

But the overarching point has to be:  Decision was made to fix.  You (the generic "you", not at your good self specifically) made it.  If it was the wrong decision, it was the wrong decision and it is nobody else's fault.  Yet the bulk of the posts seem to suggest its everybody's fault but their own for deciding to fix when they did.

I fixed.  I'm not complaining.  Yes it may turn out to be wrong but it looked right back in July and it will cost me £120 to get out of it, but it was a gamble I was happy to take.  Have to make the decision based on the information you had at the time, which was then no sign of government intervention.  In the same situation with the same facts and the same playout, I'd do the same again.

[Deleted User]

Martin's own words on the topic:

The political risk of policy shift has always been there (it's one I included in my Should I fix guide) though this is perhaps a more radical turn than many expected. The 'should I fix' call has never been easy. That's one reason when explaining the level it's worth considering at, I've always described as 'crystal ball gazing' with no way to know if it's the right call.

Some who have made the call to fix recently may feel frustrated by this. Yet ultimately remember, you made the call based on the information available at the time, that's all you can do, it was a good decision for you based on what you knew, even if the outcome doesn't turn out to be the best.