Can I cancel my energy switch?
Switching your energy supplier or tariff can be a great way to cut down on your energy bills and save money, whether you’re the owner of a business or you want to spend less at home. Unfortunately, though, it’s not always the best course of action which is why it’s so important to make a considered choice when deciding whether to switch energy supplier.
If you’ve ended up with a deal that isn’t what you thought it would be, you might be wondering whether it’s possible to cancel the switch before you’re in too deep. Keep reading to find out your options.
The rules regarding cancelling an energy supplier switch are different depending on whether you’re a domestic energy customer or you’re looking for a business energy supplier. In both cases, however, you will still be able to switch your energy supplier at all times – it’s just that you may need to pay a termination fee to do so if you’re at a stage in your contract where you’re not allowed to switch freely.
Is it possible to cancel an energy supplier switch?
Your energy supplier will be able to let you know if you need to pay a fee to switch suppliers or tariffs. It’s worth noting that if you’re switching because of poor service, you were misled about the terms of your contract or another complaint, a termination fee might be waived. However, this isn’t always the case.
How to cancel your energy switch
The actual process for cancelling an energy switch is very similar whether you’re a business energy or domestic energy customer, though there are some key differences. There may also be some slight variation in the exact procedure depending on your supplier. Here’s what you’ll likely need to do.
Cancelling a domestic energy switch
Energy suppliers are generally aware that customers can sometimes change their minds about their choice of domestic energy supplier, so there are processes in place to cancel a switch if needed. If you’ve decided you want to cancel your switch or switch to another provider, you should let them know as soon as possible.
Important! When we talk about getting in touch with your supplier to cancel a switch, it’s your new supplier you should speak to, not your old one. It can be confusing to talk about suppliers interms of old and new if there are multiple switches involved. For the purposes of this guide, your new supplier is the supplier you originally switched to, but now want to switch from or change your tariff with.
If the switch to your new supplier hasn’t gone through yet, then the supplier will block it from going ahead and you’ll remain with your old supplier. It’s then up to you if you want to stay with them or switch to an alternative supplier.
If the switch has gone through, you’ll usually have a 14-day cooling off period during which you can switch again – either back to your old supplier or to someone else – without having to pay any fees. Once you’ve signalled you want to switch, your new supplier will be in touch to let you know your options – and from that point onwards you have 15 days to agree to a new contract with any supplier of your choosing. If you choose your old supplier, you’ll typically have to agree to ‘equivalent terms’, which means you’ll be agreeing to terms and conditions very similar to those you had in your original contract.
If you don’t make a decision before the end of those 15 days, you’ll be moved onto what’s called a ‘deemed’ contract with your new supplier. This is a standard variable tariff and will almost always be more expensive than a fixed tariff, so it’s in your best interests to get things sorted before that deadline. While you’re weighing up your options before agreeing to a new contract, your new supplier is obliged to continue to supply you with energy, so you won’t be cut off – but you will have to pay your contract rates for everything you use.
Want to switch energy suppliers after your cooling off period has finished? This is a little more complicated, and you may have to pay a fee to leave your contract early. Get in touch with your new supplier to find out your options.
Cancelling a business energy switch
The process for cancelling a business energy switch is similar, but it’s worth noting that the majority of business gas and electricity contracts don’t include a cooling off period, meaning you may be more likely to need to pay a fee if you want to change suppliers after your switch has gone through.
If you’re at all unsure about what the protocol is for switching business energy suppliers, you should get in touch with your current supplier to find out everything you need to know.