EDF - getting out a fixed contract without penalties

jvjack

It hurts. EDF fix june 24.  Going to have to pay the £300 exit fee by the looks of it.
I do the the ocasional scratch card but lost on his one.

CSI said  "Your £300 is all profit.  Only £40 of your £2000 is profit"
Was wondering if they thought it might better to keep us on board and staying with them  but if thats the figures then no they wont wory if we change to another suplier.

michaels

CSI_Yorkshire said:

MrBlack8 said:

How did EDF communicate the fee free switch to SVT back in November? I checked my emails and received nothing from them that i can see.

Still waiting to see whether they'll honour a reduced exit fee or they can have their £300 and lose the over £2000 they would have got from me instead over the next 12 months if they let me switch to SVR.

Your £300 is all profit.  Only £40 of your £2000 is profit.

I don't think they'll care.

Is that correct? 

I assume they will have forward purchased to cover the risk of price changes in the hedge period so they are committed to buying the gas/electricity for Mr Blacks fix which they have then sold on to him for a small margin. 

Basically they have set the get out fee much too low.  Effectively they will be selling the fuel they are paying for at the price that matches the fix to MrBlack at the much lower current price, the £300 will help but still means they will have £1700 less than they anticipated when they hedged the fix tariff.  I bet EDF would be delighted if they could get out of the purchase and only pay a £300 charge.

SteveCooper

brewerdave said:

@SteveCooper - any updates ? Has the exit fee appeared ?

brewerdave said:

@SteveCooper - any updates ? Has the exit fee appeared ?

Happy to say , No exit fees have been charged , I was in credit by £415 , now in credit by £615 after they got the 1st July DD payment from me 
my account shows I am on the SVT as of the 1st July with no exit fees and no end date 

and my kWh price has gone from

fixed Electric 40p to SVT 29p and Gas has gone from

Fixed Gas 13p to SVT 7p 

happy to privately share details of the convo with the EDF member of staff who agreed to the deal 

MoneySaver16

@SteveCooper I would be interested in your convo and contact at EDF. I have sent a PM if you want to share privately. Thanks for reporting back!

brewerdave

MoneySaver16 said:

@SteveCooper I would be interested in your convo and contact at EDF. I have sent a PM if you want to share privately. Thanks for reporting back!

I'd also be interested as my balance as shown on the app, has decreased by £100 wef Saturday. PM sent thanks.

Gerry1

I wonder whether changing from a fixed deal to EDF's SVT may turn out to be only  a 'Get Out of Jail on Licence' card rather than 'Get Out of Jail Forever'?

There might be an algorithm running in the background until 49 days before the expiry date of the original fixed term, running a check to determine whether the OP is still an EDF customer.  Unlikely perhaps, but it might then be triggered by any move to a different supplier.

Glancing back through the thread I don't recall seeing a copy of the OP's Ts&Cs so what was originally contracted still seems unclear to me.

SteveCooper

Gerry1 said:

I wonder whether changing from a fixed deal to EDF's SVT may turn out to be only  a 'Get Out of Jail on Licence' card rather than 'Get Out of Jail Forever'?

There might be an algorithm running in the background until 49 days before the expiry date of the original fixed term, running a check to determine whether the OP is still an EDF customer.  Unlikely perhaps, but it might then be triggered by any move to a different supplier.

Glancing back through the thread I don't recall seeing a copy of the OP's Ts&Cs so what was originally contracted still seems unclear to me.

I don’t personally intend to leave EDF , I am happy to stay on the much reduced variable tariff they have put me on , on my tariff it now states “ No exit fees “ talking to other people the STV from other suppliers offered no financial incentive to move 

SteveCooper

brewerdave said:

MoneySaver16 said:

@SteveCooper I would be interested in your convo and contact at EDF. I have sent a PM if you want to share privately. Thanks for reporting back!

I'd also be interested as my balance as shown on the app, has decreased by £100 wef Saturday. PM sent thanks.

I have sent details in the pm to you of the email address of the EDF employee who will reverse the exit fee you have had deducted 

Staffordian11

SteveCooper said:

brewerdave said:

MoneySaver16 said:

@SteveCooper I would be interested in your convo and contact at EDF. I have sent a PM if you want to share privately. Thanks for reporting back!

I'd also be interested as my balance as shown on the app, has decreased by £100 wef Saturday. PM sent thanks.

I have sent details in the pm to you of the email address of the EDF employee who will reverse the exit fee you have had deducted 

I PM'd the details to someone last week, and they later told me they had heard absolutely nothing back. Possibly just on holiday, but maybe no longer able to help?

MrBlack8

For reference.  I tried contacting said email address and got no reply. Either they've been on leave for 10 days or don't respond to unsolicited approaches.

I did get partial success complaining via WhatsApp that they hadn't communicated the ability to leave fee free earlier in the term (when it was made possible in Novemeber I received no email from them). 

I followed this with a complaint that I've seen mixed messages from other customers who haven't had to pay exit fees. Finally, I said I was disappointed but would welcome any gesture of good will they could offer to accommodate for their previous poor communication and the mixed messaging that I'm currently observing.

They agreed to half the exit fee from 300 to 150.

It was a one time offer (they said) and I agreed to it. I think from looking at my account (although have no recollection of this being the case) that I did get a £150 incentive to sign up to the fixdd tariff so I call it even.