Monday, January 17

Tonik Energy stops trading-what you need to know

What will happen to my tariff when I move to a new supplier?

Once a new supplier’s been appointed and it contacts you, you’ll be moved onto a special’deemed’ contract (this means it’ll be a tariff which you haven’t chosen). Your bills may go up as a result, as ‘deemed’ contracts can be more expensive, and it also means if you’re currently on a fixed tariff, your current rate will no longer apply until the end of the fix.

However once you’ve been moved across, you can ask the new supplier to put you on to a cheaper tariff, or switch away to another provider, and if you do switch away you won’t be charged any exit fees. At that point it’s best to do a whole-of-market comparison via Cheap Energy Club to ensure you find the best deal for you.