Fixed rate tariffs are a great way to both cut your energy bills and protect against price hikes, but when your fixed deal ends you’ll most likely be rolled onto a standard tariff, which will see you paying your suppliers’ most expensive rate.
If your current energy deal is due to expire, you need to take action by comparing quotes and switching to a cheaper tariff – if not, you’ll end up paying over the odds for your gas and electricity.
If you start shopping around for a new energy deal about two weeks before your current contract expires, you should have no trouble finding a deal that saves you money, at least compared to your supplier’s standard rate.
But you can actually switch up to seven weeks before your contract ends, as Ofgem regulations require all suppliers to send you notice of your tariff end date between 42 and 49 days before it expires.
Once you receive this letter, you can safely switch without fear of incurring a penalty, even if your tariff carries an early exit or cancellation fee. This rule is in place to give you time find a new plan and make the switch before you’re rolled onto a more expensive standard rate tariff.
It’s worth keeping in mind that this letter will only alert you to cheaper plans offered by your current supplier, so to get the very best deal available always compare the whole market and switch with UK Power.
Here is complete run down of every energy deal that’s due to expire in the next couple of months – if yours is on there, start comparing quotes now and get ready to make the switch.
|Supplier||Tariff||Tariff end date|
|Co-op Online Green Feb 2018 v2||28/02/2018|
|Fix For Longer Feb 2018 v2||28/02/2018|
|Postal Fixed 1 - Feb 18||28/02/2018|
|Online Fixed 1 – Feb 18||28/02/2018|
|Online Fix February 2018||28/02/2018|
|Online Price Fix February 2018||28/02/2018|
|Fresh Fixed Price Feb 2018 v1||28/02/2018|
|Together - February 2018 - fixed 43 (Paperless Billing)||28/02/2018|
|Together - February 2018 - fixed 43 (Paper Billing)||28/02/2018|
|Together - February 2018 - fixed 44 (Paperless Billing)||28/02/2018|
|Together - February 2018 - fixed 44 (Paper Billing)||28/02/2018|
|Fixed Until February 2018||28/02/2018|
|First Fixed February 2018 v2 plus Online||28/02/2018|
|First Fixed February 2018 v2 plus Online electricity only||28/02/2018|
|Blue+Price Protection Feb 18||28/02/2018|
|Fixed Price February 2018 (Pre 08022017)||28/02/2018|
|First Fixed February 2018 v3 Online electricity only||28/02/2018|
|First Fixed February 2018 v3 Online||28/02/2018|
|Double Gold Fixed 12||28/02/2018|
|Fixed Price February 2018||28/02/2018|
|Blue+Price Protection Feb 18 V2||28/02/2018|
|GB Online February 2018||28/02/2018|
|Supplier||Tariff||Tariff end date|
|Pre Pay Fix March 2018||31/03/2018|
|Price Promise March 2018 (Pre sales 09/03/2017)||31/03/2018|
|Fixed Until March 2018||31/03/2018|
|BIue+Price Protection Mar18||31/03/2018|
|Fresh Fixed Price March 2018 v1||31/03/2018|
|Together - March 2018 - fixed 46 (Paperless Billing)||31/03/2018|
|Together - March 2018 - fixed 46 (Paper Billing)||31/03/2018|
|Online Fixed Saver March 2018 v2||31/03/2018|
|Price Promise March 2018||31/03/2018|
|Double Gold Fixed 13||31/03/2018|
|Fixed Until March 2018 v2||31/03/2018|
|Fixed Until March 2018 v3||31/03/2018|
|GnERGY Fixed March 2018||31/03/2018|
|Online Fixed Saver March 2018 v3||31/03/2018|
|Online Price Fix March 2018||31/03/2018|
|First Fixed March 2018 v5 plus Online electricity only||31/03/2018|
|First Fixed March 2018 v5 plus Online||31/03/2018|
|First Fixed March 2018 v6 Online electricity only||31/03/2018|
|First Fixed March 2018 v6 Online||31/03/2018|
|First Fixed March 2018 v7 electricity only||31/03/2018|
|First Fixed March 2018 v7||31/03/2018|
|MSM & MSE Exclusive Fixed March 2018||31/03/2018|
|Online Fixed 1 – March 18||31/03/2018|
|Postal Fixed 1 - March 18||31/03/2018|
|Together - March 2018 - fixed 45 (Paperless Billing)||31/03/2018|
|Together - March 2018 - fixed 45 (Paper Billing)||31/03/2018|
|Fixed Energy Online March 2018||31/03/2018|
|Online Fixed Saver March 2018 v4||31/03/2018|
|Online Fixed Saver March 2018 v5||31/03/2018|
|Online Fixed Price Energy March 2018||31/03/2018|
Once you find a tariff you’re happy with and agree to change supplier, it should take no longer than 17 days for the switch to complete. This includes a 14-day cooling-off period, in which time you can back out of the switch without penalty.
There’s no need for any digging or drilling inside or outside your property – there’s no difference in how the gas and electricity gets in, just a change in the company supplying it - and your new supplier will handle all the paperwork.
If you’ve run an energy comparison but can’t find a deal that’s cheaper than the one you’re currently on, you should still switch to the cheapest new deal on offer - staying with your current supplier will see your contract rolled onto its most expensive rate, which means you’ll end up paying more for your gas and electricity.
On the face of it, the cheapest energy deal best one to switch to, but you should also consider things like customer service and bill accuracy – Ofgem figures show that billing problems are the biggest cause of complaints among both domestic and business energy customers in the UK, a problem that will only be exacerbated by poor customer service.
Switching energy provider is a quick and easy way to save money on your monthly gas and electricity bills. Make the switch with UK Power now.
It’s always a good idea to switch to a fixed price energy deal to protect against price rises – the benefits are usually two-fold as they offer cheaper rates than standard plans and protect against price hikes for the duration of the contract.
On the downside, many fixed-rate deals come with a penalty fee for terminating your deal before its scheduled end date. This early exit fee is charged per fuel, and can offset any savings you might make by switching, so always do your sums before committing to any new deal. But there are fixed-rate deals out there that don’t carry an early exit fee, so always check the terms and conditions of any plan before you agree to switch.