Cancelling your current energy contract is a pretty straightforward process, but there are a few things to keep an eye out for.
This guide will take you through how to cancel, how to switch plans and what you need to know before cancelling.
To cancel your contract, it's simple:
If you want to switch your energy retailer, simply contact your new provider and apply for the new plan. The new retailer will take care of the handover.
Here is what the steps usually look like:
Note: You can find your NMI on your bill or you can ask your existing retailer.
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| Response | |
|---|---|
| 1 | 17.82% |
| 5 | 12.84% |
| 20 | 12.4% |
| 2 | 10.48% |
| 10 | 9.96% |
| 3 | 9.08% |
| 4 | 4.89% |
| 8 | 4.02% |
| 7 | 3.93% |
| 6 | 3.76% |
| 15 | 2.97% |
| 12 | 2.18% |
| 13 | 1.14% |
| 0 | 0.96% |
| 11 | 0.87% |
| 9 | 0.79% |
| 17 | 0.52% |
| 18 | 0.52% |
| 14 | 0.35% |
| 19 | 0.35% |
| 16 | 0.17% |
If you're moving houses, but you plan on staying with your current retailer, don't cancel your plan straight away. Let your provider know (either over the phone or online) that you're moving.
You'll likely be able to organise a disconnection and reconnection. However, there may be some fees involved.
Have these details ready to go for your retailer:
Early exit fees may apply to electricity and gas customers who sign a contract for a set length of time and decide to leave before that period ends.
Unlike early exit fees, disconnection fees are charged by your energy distributor, not your energy retailer. Energy distributors supply the electricity and sell it to your retailer, who in turn sells it to you. When you cancel your service, the distributor may charge your energy retailer a disconnection fee. This fee will then be passed on to you.
When switching electricity plans, remember that you have a number of rights as a customer:
This depends on what type of contract you have. The majority of energy plans are "variable rate", which means that usage rates can change at any time over the course of your plan, though your provider is required to give you some advance notice.
If you are on a "fixed rate" plan, where your usage and supply rates are frozen for a certain period of time (usually the first 12 months of your contract), your provider won't be able to vary the rates until the fixed rate period has finished.
People sometimes get the wrong idea about what's involved in switching from one retailer to another, and it can convince them to keep paying too much for a bad energy plan. Here are three common misconceptions:
Are you paying too much?
The average quarterly electricity bill has risen from $380 in 2022 to $409 in 2023, according to our consumer sentiment tracker data, while the average quarterly gas bill went from $204 in November 2022 to $237 in Nov 2023.
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1. Finder Consumer Sentiment Tracker, May 2020 (sample size: 13,243)
2. Finder Consumer Sentiment Tracker, May 2020 (sample size: 1,010)
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