When can I switch without penalty.

jerrysimon · 6 March 2018 at 11:39AM

I have slowly got round to saving money each year by moving to fixed tariffs but never switched provider.

I now want to switch from Npower to BGas which will give me a saving of £15/m !!

My existing tariff with NPower ends April 30 so my question is can I initiate the move without penalty (it says 50 days) given that it will probably take a few weeks or more for it to happen ?

Obviously I dont want to incur the £60 penalty for moving early.

System · 6 March 2018 at 11:50AM

Have you had the 49 to 42 day notification from your existing supplier that your contract is coming to an end? BG is signed up to 17 day switching. Part of the transfer process is to notify your existing supplier that you are leaving. You run the risk of this notification being received by NPower before it has sent out the 49 to 42 day notice if you apply to switch now. It follows that you could be charged an exit fee. At the end of the day, it is your decision.

It is also worth mentioning that savings are flawed when moving from a fixed contract with less than 12 months to run. You need to do a full annual cost now versus annual cost future comparison. It is possible under Ofgem comparisons to end up with a higher cost monthly plan which also shows a saving.

jerrysimon · 6 March 2018 at 12:58PM

Thanks I will wait for notification and my final March reading so I can do a full comparison as you say. I based it on what I used the previous year.

editor1 · 6 March 2018 at 2:36PM

jerrysimon wrote: »

Thanks I will wait for notification and my final March reading so I can do a full comparison as you say. I based it on what I used the previous year.

Useful info that BG not signed on to 50 day Ofgem code of practice, that said, if you have all bills available online as of February last year, its quite easy to to gauge amount used by looking at meter readings from Feb 2017 and meter readings from Jan 2018 - just a case of subtraction and then put figures in comparison sites.

EDF are offering a good 12 month fix and Quidco offering £80 cash back, so some good savings currently.

nPower · 6 March 2018 at 3:35PM

jerrysimon wrote: »

I have slowly got round to saving money each year by moving to fixed tariffs but never switched provider.

I now want to switch from Npower to BGas which will give me a saving of £15/m !!

My existing tariff with NPower ends April 30 so my question is can I initiate the move without penalty (it says 50 days) given that it will probably take a few weeks or more for it to happen ?

Obviously I dont want to incur the £60 penalty for moving early.

Hi jerrysimon,

Thanks for your message. Please contact us using the details on our profile page so we can help with your tariff query.

Thanks,

Jen

jerrysimon · 6 March 2018 at 3:47PM

Jen,

I have already and was told by one of your agents that they could not match it and should just move provider if that is what I wanted.

N1ckS · 6 March 2018 at 4:45PM

Maybe you could consider Bulb Energy. It's a variable tariff but they pay exit fees, you can get 50 pound account credit if you sign up via a referral and 50 pound credit each time you refer someone else.

System · 6 March 2018 at 5:06PM

editor1 wrote: »

Useful info that BG not signed on to 50 day Ofgem code of practice, that said, if you have all bills available online as of February last year, its quite easy to to gauge amount used by looking at meter readings from Feb 2017 and meter readings from Jan 2018 - just a case of subtraction and then put figures in comparison sites.

EDF are offering a good 12 month fix and Quidco offering £80 cash back, so some good savings currently.

What 50 day Ofgem Code of Practice? In relation to Fixed Term Contracts, all suppliers are bound by what is written in their Supply Licences;

2C.4 The licensee must:

(a) provide a Domestic Customer with a copy of the SLC 22C Statement of Renewal Terms which complies with paragraph 22C.3 no earlier than 49 days and no later than 42 days before the fixed term period of their Fixed Term Supply Contract is due to end; and

editor1 · 6 March 2018 at 7:03PM

Hengus wrote: »

What 50 day Ofgem Code of Practice? In relation to Fixed Term Contracts, all suppliers are bound by what is written in their Supply Licences;

2C.4 The licensee must:

(a) provide a Domestic Customer with a copy of the SLC 22C Statement of Renewal Terms which complies with paragraph 22C.3 no earlier than 49 days and no later than 42 days before the fixed term period of their Fixed Term Supply Contract is due to end; and

Thanks for clarification. On another matter, what are your views on EDF, shocked that the lowest 12 month fix I've found is by a Big Six supplier, however, it is reliant on cash back, but been three years since folks were able to get gas and electricity below 80 quid a month mark based on their rather high usage - folks use more energy than a four person family!!!!!

N1ckS · 6 March 2018 at 7:11PM

From experience the EDF App is a bit basic but the customer service is ok and they honoured my cashback via Topcashback. Personally I wouldn't use Quidco for such a high cashback amount, I'd recommend going via Topcashback who I find are much more reliable and get them to beat the Quidco rate: https://www.topcashback.co.uk/blog/highest-cashback-guarantee/

[Deleted User] · 6 March 2018 at 7:29PM

And personally I wouldn't use Topcashback as they have stuffed me one too many times. Quidco haven't done that once yet.
Your mileage may vary.

When can I switch without penalty.

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