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|
|GnERGY Fixed December 2017 v1||31/12/2017|
|Fixed Price December 2017||31/12/2017|
|Online Fixed Saver December 2017||31/12/2017|
|Bright Fixed Price Dec 2017 v1||31/12/2017|
|Price Protector December 2017||31/12/2017|
|GnERGY Fixed December 2017 v2||31/12/2017|
|Co-op Online December 2017||31/12/2017|
|Online Fix December 2017||31/12/2017|
|Online Fixed Saver December 2017 v2||31/12/2017|
|GnERGY Fixed December 2017 v3||31/12/2017|
|Co-op Festive Fix December 2017||31/12/2017|
|Fresh Fixed Price Dec 2017 v1||31/12/2017|
|Online Fixed 1 Dec17||31/12/2017|
|Postal Fixed 1 Dec17||31/12/2017|
|Blue+Price Protection Dec17||31/12/2017|
|Fixed Saver December 2017||31/12/2017|
|Together - December 2017 - fixed 39 (Paper Billing)||31/12/2017|
|Together - December 2017 - fixed 39 (Paperless Billing)||31/12/2017|
|iSave Fixed December 2017||31/12/2017|
|iSave Fixed December 2017 electricity only||31/12/2017|
|Price Promise December 2017||31/12/2017|
|First Fixed December 2017 Online||31/12/2017|
|First Fixed December 2017 Online electricity only||31/12/2017|
|Together - December 2017 - fixed 40 (Paper Billing)||31/12/2017|
|Together - December 2017 - fixed 40 (Paperless Billing)||31/12/2017|
|Double Gold Fixed 10||31/12/2017|
|Co-Op Online January 2017||31/12/2017|
|First Fixed December 2017 v2 Full Service||31/12/2017|
|First Fixed December 2017 v2 Full Service electricity only||31/12/2017|
|Supplier||Tariff||Tariff end date|
|Blue+Price Protection Jan 18||31/01/2018|
|Santa's Saver Fixed Price Jan 2018 v1||31/01/2018|
|Online Fix January 2018||31/01/2018|
|Postal Fixed 1 Jan 18||31/01/2018|
|Online Fixed 1 Jan 18||31/01/2018|
|First Fixed January 2018 v2 Online electricity only||31/01/2018|
|First Fixed January 2018 v2 Online||31/01/2018|
|First Fixed January 2018 v3 Full Service electricity only||31/01/2018|
|First Fixed January 2018 v3 Full Service||31/01/2018|
|Together - January 2018 - fixed 41 (Paperless Billing)||31/01/2018|
|Together - January 2018 - fixed 41 (Paper Billing)||31/01/2018|
|Fixed Price January 2018||31/01/2018|
|Fresh Fixed Price Jan 2018 v2||31/01/2018|
|Double Gold Fixed 11||31/01/2018|
|First Fixed January 2018 v4 Online electricity only||31/01/2018|
|First Fixed January 2018 v4 Online||31/01/2018|
|Together - January 2018 - fixed 42 (Paperless Billing)||31/01/2018|
|Together - January 2018 - fixed 42 (Paper Billing)||31/01/2018|
|Help Beat Cancer Fixed Price Energy January 2018||31/01/2018|
|Help Beat Cancer Fixed Price Energy January 2018 Online||31/01/2018|
|Fixed Price Energy January 2018||31/01/2018|
|Fixed Price Energy January 2018 online||31/01/2018|
|First Fixed January 2018||31/01/2018|
|First Fixed January 2018 electricity only||31/01/2018|
|iSave Fixed January 2018 (v31)||31/01/2018|
|iSave Fixed January 2018 (v31) electricity only||31/01/2018|
|HomeEnergy Connected Kit Jan 2018||31/01/2018|
|Blue+Price Freeeeze January 2018||31/01/2018|
|iSave Fixed January 2018 (v34)||31/01/2018|
|iSave Fixed January 2018 (v34) electricity only||31/01/2018|
|NSPCC First electricity only||31/01/2018|
|iControl Fixed January 2018 (v38)||31/01/2018|
|iControl Fixed January 2018 (v38) electricity only||31/01/2018|
|Fresh Fixed Price Jan 2018 v1||31/01/2018|
|Online Price Fix January 2018||31/01/2018|
|Online Price Fix January 2018 (Do not use)||31/01/2018|
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.
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.