Switching energy suppliers is pretty straightforward, but it’s not something that people in the UK do very regularly. According to an Ofgem report, nearly half of households have never switched or have only switched once.
But did you know that making a switch could save you hundreds of pounds a year because suppliers are more likely to offer bigger discounts to new customers?
There are numerous reasons why you should switch suppliers, but the most obvious is to save money, so there isn’t any point in making the change if your new deal is the same price as your current plan. You also have to consider what penalty or exit fees might need to be paid on top of this. The cost of such fees may cancel out the money you’d be saving on your new plan, making the exchange redundant.
If you want to switch but are worried about a hefty penalty fee, read on to find out how you can switch without paying the price.