Next MSE Collective Switch Coming to an End
Options
Comments
-
No great rush, in fact it's better to stay on the BG fix as long as you can, as you are unlikely to beat it.
This is what BG say about leaving them at the end if this tariff:
I'll be waiting a while and then initiate the switch away (probably near the end of September, as new suppliers tend to let the cooling off period lapse before doing anything) and effectively extend the BG tariff a bit longer. Certainly avoids going onto their standard tariff.If you decide to switch you’ll keep your current prices until:
• you switch to one of our other tariffs within 20 working days after your current tariff ends or;
• you switch to another supplier and they tell us you’d like to switch within 20 working days after your current tariff ends. The switch then needs to be completed in a reasonable time.
I’m a Forum Ambassador and I support the Forum Team on the In My Home MoneySaving, Energy and Techie Stuff boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.
0 -
No great rush, in fact it's better to stay on the BG fix as long as you can, as you are unlikely to beat it.
This is what BG say about leaving them at the end if this tariff:
Quote:
If you decide to switch you’ll keep your current prices until:
• you switch to one of our other tariffs within 20 working days after your current tariff ends or;
• you switch to another supplier and they tell us you’d like to switch within 20 working days after your current tariff ends. The switch then needs to be completed in a reasonable time.
I'll be waiting a while and then initiate the switch away (probably near the end of September, as new suppliers tend to let the cooling off period lapse before doing anything) and effectively extend the BG tariff a bit longer. Certainly avoids going onto their standard tariff.
Hi Victor2
Yes that's what my deal says aswell.
So I was going to switch 14 days after the deal ends i.e. 17th October thus allowing the new energy provider 6 days to contact BG.
On the assumption the new provider does contact BG within those 6 days (thus making it a maximum of 20 days) I should keep my current prices until the switch actually happens.
So if we take into consideration the 14 day cooling off period and a further 5 days for the switch to actually complete, I make it that I should keep my current prices until approx 11th November (it could be longer as the BG wording states "20 WORKING days" but I have assumed Saturdays and Sundays to be working days).
I've also assumed the 14 day cooling off period and a further 5 days after the cooling off period is "within a reasonable time" for the switch to happen.
This is what I was planning, what do others think of my idea?0 -
Hi Victor2
Yes that's what my deal says aswell.
So I was going to switch 14 days after the deal ends i.e. 17th October thus allowing the new energy provider 6 days to contact BG.
On the assumption the new provider does contact BG within those 6 days (thus making it a maximum of 20 days) I should keep my current prices until the switch actually happens.
So if we take into consideration the 14 day cooling off period and a further 5 days for the switch to actually complete, I make it that I should keep my current prices until approx 11th November (it could be longer as the BG wording states "20 WORKING days" but I have assumed Saturdays and Sundays to be working days).
I've also assumed the 14 day cooling off period and a further 5 days after the cooling off period is "within a reasonable time" for the switch to happen.
This is what I was planning, what do others think of my idea?
Well I am on rhe understanding that when the tarrif ends on the 3rd October it will default to the current higher tariff so during that cooling off period the risk would be paying far higher prices until the new provider has taken over. What makes you think the same collective rate will extend ?0 -
Well I am on rhe understanding that when the tarrif ends on the 3rd October it will default to the current higher tariff so during that cooling off period the risk would be paying far higher prices until the new provider has taken over. What makes you think the same collective rate will extend ?
Have a look at the Supply Licence. Provided that the losing supplier is notified via industry procedures that a transfer is in progress in the period end of contract through to 20 days after end of contract, then tariff protection applies provided the transfer takes place within a reasonable period of time. Some suppliers need to be reminded of this Standard Licence condition.
Note: applying to switch is NOT transfer notification. If, for example, you switch to a smaller supplier that is not signed up to 17 day switching and it takes no action until after the cooling off period has passed, them it is possible to miss the 20 day condition. Suppliers signed up to 17 day switching initiate the transfer during the cooling off period.
Edit: As the Supply Licence allows suppliers 35 days to transfer a supply (cooling off period + 21 days) it could argued that anything up to 35 days might be regarded as a reasonable transfer time. FWIW, I had a delayed (mismanaged switch) and I remained on my old tariff for 3 months.0 -
Have a look at the Supply Licence. Provided that the losing supplier is notified via industry procedures that a transfer is in progress in the period end of contract through to 20 days after end of contract, then tariff protection applies provided the transfer takes place within a reasonable period of time. Some suppliers need to be reminded of this Standard Licence condition.
Note: applying to switch is NOT transfer notification. If, for example, you switch to a smaller supplier that is not signed up to 17 day switching and it takes no action until after the cooling off period has passed, them it is possible to miss the 20 day condition. Suppliers signed up to 17 day switching initiate the transfer during the cooling off period.
Edit: As the Supply Licence allows suppliers 35 days to transfer a supply (cooling off period + 21 days) it could argued that anything up to 35 days might be regarded as a reasonable transfer time. FWIW, I had a delayed (mismanaged switch) and I remained on my old tariff for 3 months.
I see what you are saying but it all seems a bit uncertain and vague to take such a risk.0 -
re Switch Process: I initiated a switch from BG on 27/8 to TogetherEnergy and completion set for 18th September! Should be quicker than 6 weeksI am in the same boat as yourself but bulb shows as 17th in my ranking ( and the rates are variable) showing a cost of £777 a year (compared to my current BG 3627 a year. Economy Energy comes out on top at £644 a year but doesn't state if fixed or variable.
Hopefully having all our very old reds renewed this summer and a thermostat will make a difference to our consumption.
I suppose as my tariff ends 3rd October I should be starting the switch process now as it takes around 6 weeks ?0 -
I see what you are saying but it all seems a bit uncertain and vague to take such a risk.
What’s vague about a Supply Licence that contains written Standard Licence confitions? Some suppliers make money from the fact that consumers are not aware of their contractual rights. To put the risk into some form of context. Let’s say you pay the SVT for a month when you should have been paying a cheaper fixed tariff rate. The difference in cost at this time of the year is just a few £s but it is still worth fighting for as the Law is on your side.0 -
Hi New Forum member here! I am also on the MSE CEC deal that ends 3rd OCT.
After reading through the 6 pages here (some great advice) I decided to check the MSE CEC this morning to see if there was any news about the Collective Switch 8. It took some searching down the list, from the cheapest getting dearer, to find the Collective EDF Energy Switch.
2 things seemed a bit odd to me. 1) the switch was limited to 25,000 applicants. 2) That switch for me was £8 per month dearer than EDF's (non-collective) deal that was showing over the last few days which was very near the top i.e. near the cheapest on the list (sorted cheapest to dearest). The cheaper non-collective EDF deal has now disappeared. Should I have gone with that earlier deal? And, what's the best to do now?
Love to hear any observations on this.0 -
Somehow, we have missed out on signing up for the EDF Collective. Our current tariff ends on 3rd October 2017. Can I ask when the next Collective is likely to be so I can decide whether it is better to wait or to look for another deal using the Comparison Tool. Thanks.0
-
2 things seemed a bit odd to me. 1) the switch was limited to 25,000 applicants. 2) That switch for me was £8 per month dearer than EDF's (non-collective) deal that was showing over the last few days which was very near the top i.e. near the cheapest on the list (sorted cheapest to dearest). The cheaper non-collective EDF deal has now disappeared. Should I have gone with that earlier deal? And, what's the best to do now?
Love to hear any observations on this.
This collective switch deal is working out quite expensive for me too. It is estimated to be £235 more per year than my current BG Collective deal (granted I wasn't expecting anything quite as good this time around), but it isn't even the most competitive deal for me when looking at the "Big Names" only. It's estimated to be £50 per year more than NPower's September 18 fixed plan and has higher exit fees to (£70 as opposed to £60). I know things are tougher in the market these days but this is somewhat disappointing.
Edit: NPower are also doing £60 cashback through topcashback which is £35 better than through CEC. Factoring in the cashback NPower works out only £10 a year more expensive than Iresa and Economy Energy, I'd rather go with a bigger name for now.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards