Fixed tariff or not??

stevenelse

I have read somewhere that customers can exit fixed tariff deals and have to around 15th November to do so, without paying. However, you have to stay with that company and move onto THEIR variable tariff and to the new price cap/guarantee???

[Deleted User]

It has been rumoured (but not yet confirmed) that customers can leave domestic fixed tariffs to go anywhere without exit fees until about that date.  Many suppliers don't charge exit fees for moving from a fix to their own variable anyway, and most suppliers are not taking on new customers.

Don't assume that this will apply to you trying to exit a business fix though.  It might, or it might after some persuasion, or it might not at all.

stevenelse

Yes, that's how I read it. The £400 offered as assistance would not be available.  Taking that into consideration, I may be better staying with octopus and if EDF don't let me stay with octopus , asking EDF if I can move from their fixed tariff to their variable tariff???

stevenelse

At this moment  I have had no contract from EDF, no account number or anything. All I have had is t&c from the brokers(love energy savings) re EDF.  I'm beginning to panic a little now, and think maybe I would be best going back to a variable tariff, weather it be with EDF or octopus??

[Deleted User]

For the £400 - the important thing is that you are on a domestic tariff, no matter fixed or variable, or with which supplier.  That's not the only bit of your calculation though.

If the rates with the EdF business tariff would save you more than £400 over the next 3 years, then you would be better off staying with that.

Depends how much you would use at each price, and what you think the prices will do in the future.

And you might not get anything from EdF until after the switch.  They'll just be waiting for you to give your first meter reading on 27 Sept.

stevenelse

I understand that yes. That's what I need to decide ...to stay on this fixed tariff and fingers crossed it saves more than £400 over the 3 years. I presume the price will go up every 3 months, of variable tariffs  albeit controlled by the cap, but this time next year, the unit price would be a fair bit higher than the price EDF have given me on 3 year fixed??

Ultrasonic

stevenelse said:

I understand that yes. That's what I need to decide ...to stay on this fixed tariff and fingers crossed it saves more than £400 over the 3 years. I presume the price will go up every 3 months, of variable tariffs  albeit controlled by the cap, but this time next year, the unit price would be a fair bit higher than the price EDF have given me on 3 year fixed??

As has been mentioned above it is VERY important you find out the terms of your current agreement before doing anything. Business tariffs can easily have early termination charges that would dwarf £400.

MWT

Take your eye of a thread for an hour... So, my reply was given before the business part came to light...

Right now there is nothing more important than understanding what the contract that has been signed says about termination and in what capacity the contract was signed... i.e. as a domestic customer or in the name of your business...

stevenelse

I think first thing to do is probably make contact with EDF and like you say, found out what the agreement is with them. If they would let me stay with octopus or even go on a domestic tariff with then protected by the price cap, I think I would be better doing that. If not, I'll just have to stay with EDF for the 3 years, at least I know that the prices won't change over the 3 years...

stevenelse

MWT, is was signed in the name of my business. While I was talking to this broker company, I couldn't believe they classed my home address as a business customer, as its never been registered as a business account previously...