11 Jul 2019

A question about : Fixed deals for shared house

Hello,
We are four people sharing a house and it looks like we could save a lot of money switching to a fixed deal. But what if the person named on the bill moves out - can someone else take it on or are we stuck with the early exit penalty?
I wondered whether anyone here might have experience in a similar situation and could enlighten us. I had a quick google but came up empty. Thanks for your time!

Best answers:

  • An energy company would not usually apply an exit fee for someone moving out and closing/transferring an account.
    They would just take closing readings (meter readings) and transfer the account to the new name.
    ----
    As a side note:
    Regularly take meter readings (take photos) especially when a) you move in b)someone new moves in c) someone else moves out d)you move out).
    It can/will solve a lot of issues.
    In addition....
    Don't be mislead by the term "fixed". "Fixed" does not mean you are locked in no matter what and you have to pay for a the fixed term.
    Fixed simply means the tariff is fixed. As in what you pay per kwh in gas and electric.
    Some companies charge an early exit fee if you moved to another company within that particular tariffs fixed period.
    Many of those companies however do not charge an early exit fee for moving to another tariff with them, even if it is a better tariff.
    You need to check their policy regarding internal switches.
    Then there are companies who do not charge any early exit penalties, even if you are on "fixed" tariff, EDF and Scottish Power spring to mind.
  • The simple solution is to put all 4 names on the account.
  • OP, you need to understand that the bill is not split 4 ways by the supplier. You are all jointly and severally liable for the entire bill.
    The supplier doesn't care who pays, or what share: they'll just come after the first person they can find should the account go into arrears.
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