As it stands, a dual-fuel exit penalty for leaving a British Gas one-year fixed deal in June 2022 is £200. This time last year, it would either be nothing or £80.
Similarly for EDF Energy, the exit fee for leaving a two-year fixed rate deal is £300 whereas in 2021 it was £70 and nothing for a one-year fixed deal.
Martin Lewis, the founder of MoneySavingExpert.com, outlined why these exit fees are so “outrageous” and damaging to consumers.
Mr Lewis explained: “These massive, outrageous early exit fees are the final nail in the coffin of dying energy competition.