£100 Exit Fee

FrankRizzo

Hi,

I have attached BritishGas Electric Tarrif and I would like to switch to Octopus - However, BritishGas will charge me £100 Exit Fee - does anyone know if Octopus would cover my Exit Fee? If so what’s the process?

Any help appreciated.

Thanks

Frank

oldernonethewiser

Not according to their FAQs

https://octopusenergy.com/help-and-faqs/will-you-pay-my-termination-fee-with-my-previous-provider

t0rt0ise

No they won't! Sorry, you'll have to work out whether it's financially worth it.

Scot_39

Why do you want to end this fix

From here

https://www.moneysavingexpert.com/utilities/are-there-any-cheap-fixed-energy-deals-currently-worth-it/

The best saving is c13.5 including the MSE Discount - as % on an average Ofgem jan cap regional average SR electric of 27.69 pence per kWh and 54.75 pence daily standing charge

13.5% off the unit rate would only drop to 24p.

And the Octopus 1 year fix a mere 3.45% less 26.7p

Suppliers do not compensate for end of fix fees - in fact post crisis - they even iirc had to pay / compensate the other supplier as you were leaving. Exit fees rocketed for a while - £100 per fuel - £150 on 2 year iirc not uncommon. Double current levels at many.

As above you really need to do a £s vs £s on new vs old for your likely usage - and mkae sure if use own or even some comparison sites - all quotes are for the same usage (# kWhs per year) level - and decide whether to pay £100 to exit the 2 year fix 7 months early or not.

MWT

https://forums.moneysavingexpert.com/discussion/6653440/100-exit-fee

No, not directly, but you can ask anyone you know who is already with Octopus to give you a referral code which will get you (and them) a £50 account credit.

Not the whole £100, but half-way there at least.