Setting an energy switch date

thegreenman17 wrote: »

I have a current electricity tariff which is due to expire on 9th July - I have found a new deal (with another supplier) which is cheaper than the standard tariff it would be moved onto. I'd like to go ahead and set it up but I'd like to set a date for the switch to take place, is that possible? Many thanks in advance..

There is a way to extend your present tariff terms but it carries the risk of the new tariff that you are after being withdrawn. If you initiate a switch on the day that your contract ends, then provided your new supplier is advised via industry procedures that a transfer is in progress NO LATER than contract end date plus 20 days, then you have tariff price protection until your transfer goes through.

Having said that, in truth as it is now summer, the extra cost to you of initiating a switch today would be minimal. If, for example, you use 8kWhs of electricity a day and you initiate a switch, and your transfer goes through on, say, the 20th June then the calculation goes something like this:

Present cost per kWh = 11p

New cost per kWh = 12p

Units used from 20th June until 9th July = 19 x 8 = 152Kwhs

Additional cost to me of switching now is £152 x 0.01 0r £1.50

Is it worth missing out on a good tariff to save £1.50? Only you can make that decision.