No Cancellation Fees Cheaper Than Cheap

No Cancellation Fees Cheaper Than Cheap

During the race to bottom off energy tariffs, many of us ignore certain terms & conditions that could cost us a little extra, but some that could save us money too. Flexibility in your energy tariff should be as important as overall price because some cheap and enticing offers can have small print that means there’ll be charge should you move supplier.

The uSwitch best buy table is currently full of fixed price plans from independent suppliers, and whilst many allow a short term price fix – say, 12 months – many also charge a cancellation fee should you want to end or move your tariff.

It’s thought that around only a third of us are on flexible plans that offer no cancellation fees at all. A fixed price plan is great if prices go up, not so great if they go down (when does that happen?) and so are naturally a popular choice. However if rates did fall, or another supplier offered a better rate, you could be charged upto £60 to cancel your fixed tariff with your current supplier.

There are though a handful of fixed tariffs with no cancellation fees:

EDF Energy’s Blue+Price Promise February 2016 – fixed until February 2016 and will cost the average home £1,049 per year.

ScottishPower’s Online Fixed Price Energy September 2015 – fixed until September 2015 at an average cost of £1,063 per year.

Flow Energy’s Thames Online Fixed September – fixed until September 2015 which costs £1,010 on average.

nPower’s Online Price Fix October 2015 – fixed until October 2015 with an average cost of £1,067

 

There are some situations such as moving home where cancellation fees may be waived by the supplier. However the best way to avoid the fees is to switch to a tariff that just doesn’t have them in the first place.

 

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