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Things to consider

Rates: Different suppliers offer different energy prices. Pay attention not only to the price per kWh for electricity and per m3 for gas but also to the fixed delivery costs.

Type of energy: Is sustainable energy important to you? Some suppliers provide 100% renewable energy from sources like wind or solar.

Type of contract: Are you opting for a fixed or variable contract? Fixed contracts usually last one year, sometimes longer. Variable contracts are open-ended and can be canceled monthly.

Bonuses and promotions: Some energy suppliers offer bonuses or special deals to attract new customers. These can be tempting, but make sure you fully understand the terms and conditions.

Switching penalty: If your current contract hasn't expired yet, you might have to pay a fee for switching early. This is known as a switching penalty or termination fee.

Terminating your old contract: Your new energy supplier will handle the termination of your old contract when you switch. If you change your mind, you have 14 days to cancel the application.

When to switch energy contracts?

When your energy contract is nearing its end, it's always a good idea to check if you can find a cheaper option. If a better deal isn't available, you can renew your current contract. If you don't renew, your energy supplier will automatically switch you to a variable contract.

Are you moving? Your current supplier might not serve your new address. In that case, you'll need to find a new energy provider. It's not difficult to find one, but make sure to do it promptly to avoid any disruption in your energy supply.

Whether switching is a smart move depends on your current contract and the current rates. Often, switching does pay off. What was a good deal last year might not be the best option now, as energy prices frequently change.

It's wise to compare the current offers to your existing contract to ensure you're getting the best deal.

Types of energy contracts

When signing up for an energy contract, you'll be asked which type you prefer. There are three types, each with its pros and cons. Not all suppliers offer every type of contract.

Fixed energy contract: You agree on a fixed rate. For the duration of the contract, this is the price you pay for energy, regardless of market price changes. If you want to cancel early, you will incur a switching penalty.

Variable contract: The energy rates depend on the market price and change monthly. You never pay too much, but you have less certainty. However, you can easily cancel and switch suppliers.

Dynamic contract: The electricity price changes hourly, and the gas price changes daily. You always pay the current energy prices. However, prices can fluctuate easily, offering less stability.