Will I lose my built-up energy credit if I switch provider?

Q: I’ve been with the same electricity supplier for years and suspect I’m paying more than I need to. With more price increases being announced, I want to shop around before winter. However, my account is €180 in credit because several of my summer bills were estimated. Will I lose this money if I switch, or should I wait until the credit has been used up? 

Aoife, Galway

A: You are not alone in taking a closer look at your energy bills. We always advise shopping around, especially if you have been with the same supplier for a few years.

The CCPC’s latest Consumer Helpline Report showed a sharp increase in queries about utilities and fuel during the first half of 2026.The short answer, Aoife, is no, you do not need to use up the €180 in credit before switching. And switching is always a good way to help keep your energy bills down if you are out of contract with your supplier.

Once you sign up with a new supplier, they will arrange the switch. Your electricity supply will continue as normal, and any credit will be refunded back to you by your old supplier.

To switch, you will need the Meter Price Reference Number (MPRN), from your electricity bill. This is the 11-digit number that identifies your electricity connection. Take an up-to-date meter reading too. This will help your old supplier calculate an accurate final bill instead of using another estimate.

Once the changeover happens, your old supplier will close your account and send you a final bill. This should show any credit left on the account. 

Ask how the money will be returned to you, as refund methods can differ between suppliers. Leaving your direct debit active here will ensure that any credit can be easily refunded.

Before making the move, check whether you are still tied into a fixed-term contract. You could face an exit fee if you leave early. If your supplier has recently written to tell you about a price increase, read the notice carefully, as it may explain whether you can leave without having to pay a fee.

When comparing deals, look beyond a tempting welcome bonus or headline discount. Check what the plan is likely to cost over a full year, including the unit rate and standing charge. You should also check how long the discount lasts and whether the new plan has an exit fee.

The Commission for Regulation of Utilities (CRU) regulates energy and water suppliers. Its website lists approved price-comparison websites to help you shop around or help with the switching process.  Another piece of advice is that you will get a more accurate result on a cost comparison site if you have your annual past usage to hand. This information will be available on a utility bill or can be requested from a supplier.

The CRU website also explains how to take a complaint further if you cannot resolve it directly with your supplier. You can find more information at cru.ie.