Energy cancellation charges
Want to cancel your energy plan and switch to a new supplier? Here’s what you need to know….
When can you 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’re probably free to do so now.
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 unsure, you could 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.
Switch and save up to €487 on your energy bills
It only takes a few minutes to find a cheaper deal and start saving
Can you switch energy supplier if they hike their prices?
The vast majority of energy tariffs in Ireland are what’s known as ‘variable tariffs’ which is where rates can rise or fall.
So, if you’re on a variable tariff, you signed up to the risk of price hikes, and if you’ve switched within the last 12 months, you’ll still be locked into your contract.
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.
What happens when you switch supplier or cancel while you’re in contract?
If you do decide to cancel your contract within the minimum term, you’ll have to pay an early exit fee.
Most suppliers charge €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, it might work out cheaper to pay the exit fee and switch to a cheaper plan.
If you’re thinking about doing this, be sure 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.
How to switch supplier when you’re out of your minimum contract term
If you haven’t switched in over a year, the chances are you’re outside your minimum term and free to switch - and it couldn’t be easier.
All you need to do is:
- Carry out a free gas and electricity comparison using Switcher.ie’s comparison tool
- Choose the plan that suits you best
- 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 €487.