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With energy tariffs set to rise for millions of households across the UK, money saving expert Martin Lewis, has shared a quick tip to stop you from receiving an extra unwanted bill. The energy price cap is set to go by six per cent from April 1 to June 30, 2025, with typical households having an additional £9.25 added to their bill.
Many people will be scouting around to find the cheapest deal for their energy provider but you may feel trapped with the fear of an additional exit fee charge. For money-saving tips, sign up to our Money newsletter here
The expert has given his advice for those looking to switch their provider within the coming weeks to avoid the fee. If you are on a fixed tariff or if you’re considering getting one, you should know that providers cannot charge you an exit fee if you leave within the last 50 days.
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Martin Lewis advised: “They cannot charge you early exit fees if you leave a fix within the last 50 days. From day 49 onwards no early exit penalties. You’re free to leave if you choose to.”
Therefore the expert has advised people looking to weigh up their options to figure out when their contract ends and to note 50 says beforehand on your calendar, whilst you search for a more affordable deal. Providers will not charge you to switch to a better provider from 50 days before your contract is due to end.
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