Energy tariff ending? What you need to know
What happens when your fixed or discounted energy plan comes to an end? Here’s what you need to know about exit fees and switching to a new supplier.
Taking advantage of discounts on energy tariffs is the best way to save money on your energy bills.
However, these discounted tariffs are always for a limited time - usually 12 months - after which you’ll revert to the standard rate, which will be much more expensive.
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How to check when your discounted tariff is ending
If you switched more than 12 months ago, you’ll have reverted to the standard rate by now.
If you’re not sure when you last switched - or whether or not you’re still on a discounted tariff - your latest energy bill can help.
If you’re still within the discount period, you’ll either see a discounted unit rate listed on your bill, or your discount will be clearly deducted at the end of your bill (depending on the supplier you’re with).
If you can’t see a reference to a discount on your bill, the chances are your discount is over, but if you’re not 100% sure, you can always contact your supplier to check this.
Energy suppliers should provide you with 30 days’ notice before their discount ends, as well as issuing an annual prompt if you’ve been on the same tariff for three years or more. So, if you receive either of these notifications, you should be thinking about switching.
Can energy companies charge exit fees?
Energy suppliers can and do charge early exit fees if you leave your contract before the minimum period (usually 12 months) is up.
Most energy suppliers charge an early exit fee of €50 per fuel, so you’ll end up paying €100 if you’re a dual fuel customer and you cancel early.
When can you switch energy supplier without penalty?
Once you’re out of your contract’s ‘minimum term’ - which is normally 12 months - you’re free to switch energy supplier without penalty.
Switching supplier is easy and offers savings of up to €440 for a typical dual fuel customer switching from standard tariffs to the cheapest deals on the market.
How long does it take to switch energy companies?
There’s a misconception out there that switching energy supplier is a lot of hassle. It’s actually really straightforward and usually only takes about 10 minutes, and it could save you hundreds of euro.
How to switch your energy plans
To get started with your switch, head to Switcher.ie’s free, impartial gas and electricity comparison. In order to accurately compare deals, you’ll need copies of your most recent gas or electricity bill - or both if you’re a dual fuel customer.
Once you enter in information on your current supplier, and your consumption information, you’ll then get a list of deals available to you. Choose the one that suits you best and click on ‘Switch now’.
At that point, you’ll need your Gas Point Reference Number(GPRN) and/or Meter Point Reference Number (MPRN), as well as a current gas and/or electricity meter reading - so your old supplier can provide you with a final bill and your new supplier can start from that point.
Switcher.ie and your new supplier will handle the full switch, and all suppliers use the same pipes and cables to supply energy to your home, so you don’t need to worry about any loss in service.