Renewal letter window – Be aware of the renewal letter window period for termination (For example: “if you wish to terminate your electricity or gas contract you must contact us in writing no sooner than 120 days and no later than 90 days before the anniversary of the contract signing date”) If you opt out during the renewal period no charges are applied. If notice is not given for cancellation, you will be automatically signed up for another year or agreed duration. The Renewal Letter will also state when you will need to tell you current supplier you wish to leave them Renewal is a large issue at present, Energy4 is here to help. Previously Energy4 has notified OfGem of Utility malpractice, and will continue to do so.
- Ofgem found 18 suppliers failed to correctly protect customers’ tariff prices when they decided to switch supplier or tariff
- Over 1 million customers were overcharged over £7.2 million for the failings
- Collectively, the suppliers are issuing refunds and redress payments worth £10.4 million
- those on a standard variable tariff who switched to another supplier but did not have their variable tariff price protected during the switch,
- customers on a fixed-term tariff who switched to another supplier but did not have their fixed term tariff protected during the switch, and
- customers on a fixed-term tariff who moved to another tariff with their supplier but did not have their fixed-term tariff protected during the switch.