Understanding when you can switch your energy supplier without incurring a penalty is crucial for efficient energy management and saving money. This guide demystifies the process, providing you with comprehensive insights and tips to avoid unnecessary fees when making the switch.
You can switch energy supplier without paying an exit fee up to 49 day before your contract is due to expire.
Introduced by Ofgem, the UK energy regulator, the rules state that a customer must not be charged exit fees if they leave during or after the 'switching window, which is "49 calendar days before a fixed term contract ends".
The end date of a fixed rate energy contract probably isn't an anniversary you'll commit to memory, but there are a number simple ways to find out if your energy deal is ending.
The first is to check the table below, which shows all the energy deals ending this month - if your deal is on there, you can now switch with paying an exit fee.
Below is a list of the energy tariffs for all energy suppliers due to expire this month:
Below are some other ways to find out when your current energy deal ends.
Compare prices and switch, is the simple answer.
If your energy deal comes with an exit fee attached, you should start comparing energy suppliers as soon as it enters its last 49 days - although you can compare prices and switch online in minutes, the actual switching process can take up to 21 days, so it makes sense to arrange your transfer to a new supplier as soon as possible.
If your energy deal doesn't charge an early exit fee, it makes sense to compare prices every month, to see if you can get a cheaper deal elsewhere. Although this might sound like an unnecessary hassle, it only takes a few minutes to run an energy price comparison with The Energy Shop and, once you decide on a deal you like, we'll handle the whole switch for you.
If you don't switch before your current deal ends, your supplier will simply roll you onto its standard variable rate tariff - although this means you'll still have gas and electricity to power your property, it also means you'll be paying more than you need to for energy.
If you are rolled onto your supplier's standard variable rate tariff, you can switch away from this at any time, without being charged a penalty.
The simplest way to switch energy supplier is to run a energy price comparison - we'll instantly compare the best deals from across the market, so you can see how much you could save by switching.
All you have to do is find a deal you like and let us know you want to switch by clicking the 'Proceed' button. We'll then handle the rest of the switch from there, by informing your current supplier that you'll be leaving and letting your new one know you're joining.
You'll be with your new supplier and saving money within 21 days.
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