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|
|First Fixed January 2019 v3 Full Service||31/01/2019||Compare|
|Together - January 2019 – fixed 67 (Paperless Billing)||31/01/2019||Compare|
|Postal Fixed 1 – Jan 19||31/01/2019||Compare|
|First Fixed January 2019 v3 Full Service Electricity Only||31/01/2019||Compare|
|First Fixed January 2019 v2 Online||31/01/2019||Compare|
|Together - January 2019 – fixed 67 (Paper Billing)||31/01/2019||Compare|
|All Online January 2019||31/01/2019||Compare|
|Smart First January 2019 v2 Electricity Only||31/01/2019||Compare|
|BIue+Fixed Prepay January 2019||31/01/2019||Compare|
|First Fixed January 2019 v2 Online Electricity Only||31/01/2019||Compare|
|Online Fixed 1 – Jan 19||31/01/2019||Compare|
|Smart First January 2019 v2||31/01/2019||Compare|
|Star Fixed Price Jan 2019 v1||31/01/2019||Compare|
|TOTO Price Promise Variable Saver||31/01/2019||Compare|
|Supplier||Tariff||Tariff end date|
|Sunrise Fixed Price Feb 2019 v1||28/02/2019||Compare|
|Together - February 2019 - fixed 68 (Paper Billing)||28/02/2019||Compare|
|HomeEnergy Capped Feb 2019||28/02/2019||Compare|
|FixedFor 12 v6 (Paperless Billing)||28/02/2019||Compare|
|First Fixed February 2019 v3 Electricity Only||28/02/2019||Compare|
|First Vine February 2019 Electricity Only||28/02/2019||Compare|
|First Fixed February 2019 v2 plus||28/02/2019||Compare|
|First Fixed February 2019 v3||28/02/2019||Compare|
|First Fixed February 2019 v4 plus Electricity Only||28/02/2019||Compare|
|StuRents Fixed February 2019||28/02/2019||Compare|
|Fixed Until February 2019||28/02/2019||Compare|
|Online Fixed 2 - Feb 19||28/02/2019||Compare|
|First Fixed February 2019 v4 plus||28/02/2019||Compare|
|First Vine February 2019||28/02/2019||Compare|
|Together - February 2019 - fixed 68 (Paperless Billing)||28/02/2019||Compare|
|Postal Fixed 1 – Feb 19||28/02/2019||Compare|
|Flow Tulip Fixed March 2019 Green||28/02/2019||Compare|
|StuRents Fixed February 2019 Electricity Only||28/02/2019||Compare|
|Postal Fixed 2 – Feb 19||28/02/2019||Compare|
|Online Fixed 1 – Feb 19||28/02/2019||Compare|
|First Vine February 2019 v2 Electricity Only||28/02/2019||Compare|
|First Vine February 2019 v2||28/02/2019||Compare|
|First Magic February 2019||28/02/2019||Compare|
|Price Freeze February 2019||28/02/2019||Compare|
|FixedFor 12 v6 (Paper Billing)||28/02/2019||Compare|
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.