In normal times, we don’t charge exit fees. We believe that the level of service we offer should be good enough for our customers to want to stay - even if they can find slightly better prices elsewhere as the market moves around.
However, with the unprecedented high prices we saw last year, we needed to include exit fees for two and three year contracts. This guards against the risk of customers leaving mid-term.
The 40% exit fee option we’re offering doesn’t cover the loss we would make if all eligible customers took it up. But, it does allow us to cover some of the costs we would incur.