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 on to a special’deemed’ contract (a tariff you won’t have 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 a cheaper tariff, or switch away to another provider. If you do switch, you won’t be charged 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.