What should I do if I want to cancel a fixed-term electricity contract?

What should I do if I want to cancel a fixed-term electricity contract?

When you want to cancel a fixed-term electricity contract, you should first check the terms of the contract. Often, fixed-term contracts have defined the exact conditions for terminating the contract. If there is no mention of termination in the contract, you should contact the electricity company and inquire about the possibility of terminating the contract.

Usually, terminating a fixed-term contract before the end of the contract period can cause sanctions due to breach of contract, such as compensation for breach of contract. It is therefore important to find out the possible sanctions before terminating the contract.

You can also consider options for changing the contract instead of canceling it completely. For example, you can negotiate new terms with the electricity company or look for a better offer from another electricity company.

If you are sure of your decision to terminate a fixed-term electricity contract, contact the electricity company and ask for instructions on terminating the contract. Also remember to find out the possible notice periods and fees before making a decision.

Sources: Consumer Agency