Best energy tariffs with switch credit in the UK (February 2026)
A UK-focused guide to finding (and qualifying for) switch credit this month—what counts, what to watch for, and how to compare whole-of-market tariffs in minutes.
- See what switch credit is (and isn’t) and when it’s usually paid
- Compare tariffs by total estimated annual cost (not just the headline bonus)
- Check eligibility: meter type, payment method, region, and account rules
Switch credit availability and amounts change often and depend on eligibility. Examples on this page are estimates for guidance only.
Fast answer: the “best” switch-credit tariff is the lowest total cost you can actually qualify for
If two tariffs are otherwise similar, switch credit can tip the balance. But the best pick is usually the tariff with the lowest estimated annual cost after applying any credit—and with terms you can meet (payment method, meter type, and eligibility rules).
What counts as switch credit?
A one-off bill credit (or account credit) for opening a new supply with a supplier. It’s different from referral credit and from ongoing discounts.
When do you get it?
Often after your switch completes and your first Direct Debit is taken, but timings vary (commonly within 30–90 days). Always check the tariff terms.
The common mistake
Choosing a higher unit-rate tariff just for a bonus. A £50–£100 credit can be wiped out quickly by higher standing charges or unit rates.
Quick rule of thumb: compare tariffs on total estimated annual cost for your exact details (postcode/region, payment method, fuel type, and meter). Then check credit terms and any exit fees.
Compare whole-of-market tariffs (and see switch credit you’re eligible for)
Tell us the basics and we’ll show available home energy tariffs from across the market, including any switch credit where offered. We’ll also highlight key terms like exit fees, contract length, and payment method.
What you’ll need (2 minutes)
- Your postcode (sets your electricity region)
- Whether you have gas and electricity, or electric-only
- Meter type (smart / credit / prepay, if you know it)
- Preferred payment method (Direct Debit is most common for credit deals)
How we show “best”
We prioritise estimated annual cost for your details, then surface key differences: fixed vs variable, exit fees, and any switch credit with its conditions.
Important: switch credit is often limited to new customers only and may require you to keep the tariff for a minimum period. Always confirm the supplier’s eligibility and payout timing before you switch.
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How switch credit works in the UK (and what to check)
Typical eligibility rules
- New customer to that supplier (often “not supplied by us in last X months”)
- Payment method (commonly Direct Debit for credit tariffs)
- Fuel and meter (gas/electric; smart meter sometimes required for certain tariffs)
- Account status (no debt transfer restrictions beyond supplier policy)
Common payout conditions
- Credit applied after switch completes (usually after first bill or first payment)
- May require you to stay on supply for a minimum period
- Often applied as bill credit (not cash) and may be split across fuels
- May not apply if you cancel during the cooling-off period
A straightforward way to choose
- Filter by your meter type (smart / standard credit / prepay) and payment method.
- Compare total cost: (unit rates × your usage) + standing charges - any eligible credit.
- Check contract terms: tariff end date, exit fees, and what happens when the fix ends.
- Read the credit terms: payout timing, eligibility window, and whether it’s bill credit.
- Decide based on fit: not just price—billing quality, customer service, and flexibility matter too.
Switch credit vs lower rates: a practical comparison
Use this table to sense-check offers. The aim is to avoid overvaluing credit when unit rates and standing charges differ.
| Offer type | Usually suits | Watch-outs | How to decide |
|---|---|---|---|
| Fixed tariff + switch credit | You want price certainty and meet eligibility (often Direct Debit, new customer). | Exit fees, credit timing, and rules about cancelling early. | Calculate annual cost with your usage; subtract credit only if you’ll qualify and stay long enough. |
| Fixed tariff, no credit | You want stability; you don’t qualify for credit or prefer simplicity. | Might not be the cheapest in-month; check what happens at end of fix. | If the rates are clearly lower than credit deals, it can still win overall. |
| Variable tariff | You need flexibility or plan to switch again soon. | Prices can change; “credit” is less common on variable tariffs. | Consider if avoiding exit fees is worth potential price changes. |
| Prepayment / PAYG options | You’re on prepay or need tighter budgeting. | Switch credit offers are often limited; meter changes may be needed. | Compare like-for-like prepay tariffs and check whether you can move to credit billing safely. |
Decision checklist (quick and realistic)
- Region: did you compare using your postcode?
- Meter: smart / standard / prepay matched correctly?
- Payment method: Direct Debit required for the credit?
- Exit fees: any charges if you switch again before the end date?
- Credit terms: when is it paid, and could you lose it by cancelling?
- Total cost: did you include standing charge + unit rates for your usage?
Who switch-credit deals tend to suit (and who they don’t)
- Usually suits
- Households on Direct Debit, likely to stay on supply long enough, and able to pass eligibility checks (new customer rules, meter requirements).
- May not suit
- Prepay customers (fewer credits), anyone planning to move home soon, or those with an existing fix and exit fees that outweigh the bonus.
Two realistic scenarios with numbers (illustrative only)
These examples show how switch credit can help—or be outweighed by rates. Figures are estimated and simplified to make the comparison clear. Your actual cost depends on your unit rates, standing charges, usage, and eligibility.
Scenario A: credit deal wins (because rates are similar)
- Assumptions: dual fuel, Direct Debit, standard credit meter, typical usage (illustrative).
- Tariff 1: Estimated annual cost £1,780, includes £80 switch credit (paid after switch completes).
- Tariff 2: Estimated annual cost £1,835, no credit.
Result: If you qualify for the credit and stay long enough for it to be paid, Tariff 1 is ~£55 cheaper overall in this example.
Scenario B: credit deal loses (rates outweigh the bonus)
- Assumptions: electricity-only flat, higher standing charge differences, Direct Debit.
- Tariff 1: Estimated annual cost £1,120, includes £60 switch credit.
- Tariff 2: Estimated annual cost £1,040, no credit.
Result: Even after £60 credit, Tariff 1 could still be ~£20 more expensive overall in this example. Lower rates can beat a bonus.
Tip: If you’re in a fixed deal already, compare any exit fee to the size of the switch credit and the expected rate difference. Sometimes waiting until the fix ends is better.
Costs, exclusions and common pitfalls (UK-specific)
Switch credit can be useful, but it’s often conditional. These are the issues that most commonly trip people up when comparing tariffs in the UK.
1) You’re not eligible
The offer may be new customers only, may exclude certain meter types, or may require Direct Debit. If you’re on prepay, options can be more limited.
2) Exit fees wipe out the bonus
If you’re already in a fix, leaving early can cost more than the switch credit. Check your current tariff end date and any fees.
3) Credit arrives later than expected
Some suppliers apply credit after the first bill or after a set number of days. If you switch again too soon, you may lose it.
4) Standing charges matter more than people think
If you use less energy (small flat, away often), a higher standing charge can outweigh a one-off credit.
5) Smart meter / tariff type mismatch
Some tariffs are designed for smart meters or have time-of-use features. If you don’t have the right meter, you may be moved to an alternative tariff.
6) Moving home
If you’re likely to move soon, a fixed tariff with exit fees may not suit you—even with credit—unless the supplier allows a transfer to your new address.
Cooling-off period: UK switches typically include a cooling-off period. If you cancel during that time, any promotional credit normally won’t be applied. Check the supplier’s terms and your confirmation emails.
FAQs: switch credit and “best tariffs” in the UK
1) Is switch credit guaranteed?
No. It’s typically conditional on eligibility (often new customer status and Direct Debit) and may only be applied after the switch completes and certain conditions are met. Always read the supplier’s offer terms.
2) How long does switching take in the UK?
Many switches complete in a few working days, but timing can vary depending on the supplier and any meter/account checks. Your new supplier should confirm key dates and your cooling-off period.
3) Can I get switch credit if I’m on a prepayment meter?
Sometimes, but it’s less common. Some suppliers restrict switch-credit deals to credit meters with Direct Debit. If you want to move from prepay to credit billing, check eligibility and whether the supplier requires a credit check or meter exchange.
4) What if I have a smart meter?
Smart meters can widen your choice, including time-of-use tariffs. However, not every smart tariff suits every household. If your usage is mostly evenings, a time-of-use plan could cost more—compare using your actual pattern where possible.
5) Will my supply be interrupted if I switch?
No—switching supplier should not interrupt your gas or electricity supply. The pipes and wires stay the same; only the company that bills you changes.
6) Does my postcode affect the “best tariff”?
Yes. Electricity costs vary by region due to network charges and tariff pricing differences. That’s why accurate comparisons always use your postcode.
7) Is a fixed tariff always better than variable?
Not always. Fixed tariffs offer price certainty for the term but may include exit fees. Variable tariffs are flexible but prices can change. The better choice depends on your appetite for risk, how long you plan to stay, and the overall estimated cost.
8) What happens to credit balances when I switch?
Your old supplier should send a final bill based on your closing meter readings and refund any credit (or request payment if you owe). Keep copies of readings and final statements in case you need to query the outcome.
If you’re unsure about meter type: your bill or online account usually states whether you’re credit or prepay, and whether you have a smart meter. If not, we can still compare based on what you know and refine later.
Trust, transparency and how we assess “best” this month
Written & reviewed
Written by: EnergyPlus Editorial Team
Reviewed by: Energy Specialist
Last updated: February 2026
What we mean by “best”
For most households, “best” means the lowest estimated annual cost from tariffs you can qualify for, with clear terms (including switch credit conditions and any exit fees).
Limitations (important)
Prices and credits change frequently. Not every customer qualifies for every offer. Calculations are estimates based on provided information and published tariff rates.
Our comparison approach (methodology)
- Tariff scope: UK domestic energy tariffs available through our comparison journey, including deals with promotional bill credit where offered and applicable.
- Key inputs: postcode (region), payment method, fuel (gas/electric/dual), meter type (where known), and usage (actual where provided; otherwise a reasonable estimate may be used during early comparison steps).
- Cost calculation: estimated annual cost = (unit rates × estimated usage) + standing charges. Where switch credit is shown, we treat it as a reduction to estimated first-year cost only when eligibility and minimum stay conditions are met.
- Ranking: primarily by estimated annual cost, then by clarity of terms (contract length, exit fees) and suitability (meter/payment constraints).
- Why your results may differ: supplier eligibility rules, account history, smart meter requirements, and changes to tariffs/credit offers can alter availability.
Sources and further guidance
- Ofgem (energy regulator): consumer guidance and switching
- Citizens Advice: switching supplier and dealing with billing issues
- GOV.UK: energy guidance and support information
We aim to keep this guide current, but always confirm offer terms on the supplier’s tariff information before switching.
Ready to compare tariffs with switch credit?
Get a whole-of-market comparison based on your postcode, meter and payment method—then choose a tariff with terms you’re comfortable with.
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