If you are on a fixed deal, your contract with the supplier will come to an end after a specific date. This article explains what Switchd will do to ensure that you are always on the best deal.
This article will cover the following topics:
- What is a Fixed deal?
- What happens when my fixed deal ends?
- How will Switchd keep me on the best deal when my deal ends?
- My current deal is coming to an end so why haven't I been switched?
- What is a rollover tariff?
What is a fixed deal?
A fixed deal is contract where the amount in which a customer pays for a unit of gas and electricity and daily standing charges will not change for the duration of the contract. The duration is usually between 12 and 24 months.
There is usually a charge if you end the contract before the agreed date- this is called exit fees. However, if a customer switches away 49 days or less before the contract ends, no exit fees are applied.
To find the tariff end date, you can head over to your Switchd dashboard (on the 'Deal Details' page), the supplier online account or you can find it on the contract itself.
What happens when my fixed deal ends?
If you do not switch to a new deal, the supplier will automatically put you on their "rollover tariff". Rollover tariffs have no exit fees so customers are free to switch whenever they like. The supplier will inform you 49 days before your deal ends to let you know you will be put on their rollover deal the day after you deal ends.
Switchd know the pricing details of each supplier's rollover tariff and we will make sure you are put on the best deals.
How will Switchd keep me on the best deal when my fixed deal ends?
49 days before your fixed deal comes to an end Switchd will automatically begin comparing the deals on the market to your future rollover tariff. If there is a deal available that is cheaper than your rollover deal, we will initiate a switch (remember, exit fees do not apply 49 or less days before your deal ends!).
My contract is coming to an end, so why haven't I been switched?
If the rollover deal is cheaper than all the other deals that are available on the market we will decide to let you go on it. As soon as a new deal becomes available that will save you money, we will initiate the switch automatically and send you a notification.
What is a rollover tariff?
It's the default tariff your supplier has chosen for you to move to once your fixed term contract ends and you've not been switched to a different deal. This tends to be the Standard Variable tariff, however, it depends on each supplier.