Energy cancellation charges
Want to cancel your energy plan and switch to a new supplier? Here’s what you need to know….
Am I always free to switch to a new energy supplier?
The vast majority of gas and electricity contracts are for 12 months (this is what’s known as the ‘minimum term’) so if you haven’t switched in the last year, you are more than likely free to do so now.
However, if you signed up to contract that came with a free smart thermostat or similar, it’s possible you will have agreed to a longer contract as part of this.
If you’re ever unsure, the best bet would be to get in touch with your energy supplier to check. If you’re out of contract, you will save hundreds of euro by switching to a new supplier who offers a discounted rate.
I’m in contract and my energy supplier has hiked prices - am I free to switch?
The vast majority of energy tariffs in Ireland are what’s known as ‘variable tariffs’.
If you’ve switched within the last 12 months, you’ll still be locked into your contract - despite the price rises - because variable tariffs mean rates can rise or fall.
If this is the case, you can still make decent savings on your energy bills by taking some energy-saving measures around the home - our guides on energy saving can help you get started.
If I do switch or cancel when I’m in contract, will I have to pay an energy cancellation charge?
If you do decide to cancel your contract within the minimum term, you will have to pay an early exit fee. For most suppliers, this charge is €50 per fuel - so you’ll pay €50 if you have gas or electricity, and €100 if you have a dual fuel plan with the supplier.
If your supplier has implemented a significant price hike, and you’re still in contract, you might still be better off switching away, paying the exit fee and opting for a cheaper plan.
If you’re thinking about doing this, be careful - you need to factor the exit fee into any calculations you make when you’re comparing plans and opting which one to go for.
And remember, the vast majority of plans available in Ireland are variable tariffs, so - unless you opt for a fixed rate plan - your new supplier could hike prices, too.
I’m out of my minimum term, how do I switch supplier?
If you haven’t switched in over a year, the chances are you’re outside your minimum term and are free to switch - and doing so couldn’t be easier.
All you need to do is carry out a free gas and electricity comparison using Switcher.ie’s independent, impartial comparison tool, choose the plan that suits you best and fill in a few details, like your gas meter and electricity meter readings.
Switcher.ie and your new supplier will then handle the full switch for you. It only takes a few minutes, and the average dual fuel customer could save up to €378, so why not see if you can find a new deal that works for you?