Over the last few years, millions of people have fixed their energy prices in anticipation of huge price rises, and now many of those fixed price energy plans are coming to end. So what can you do if you're about to come off a fixed plan or your plan has already ended? Read on to find out with uSwitch.com.
How do I find out when my fixed price energy plan ends?
If you're on a fixed price plan it's important to know when it ends so you can be prepared to avoid a sudden increase to your gas and electricity bills. But be careful - if you switch before your contract is up you could incur a penalty fee. Check your terms and conditions or speak to your supplier to find out when you can switch without the risk of a penalty charge.
Table of fixed energy plans and their end dates
See our table below for a list of fixed plans and their end dates, as well as any penalty fees that may apply if you leave early.
| Fixed price plan name | Plan end date | Penalty Fee |
| ScottishPower - 2010 Price Guarantee | 1.1.2010 | £30 for electricity and £20 for gas |
| ScottishPower - 2010 Price Stepper | 1.1.2010 | £30 electricity and £20 gas |
| ScottishPower - PriceSure Energy | 1.1.2010 | £30 electricity and £20 gas |
| E.ON - Capped until March 2010 (signed up before July 2006) | 1.3.2010 | N/A |
| E.ON - Capped until March 2010 (signed upbefore August 2006) | 1.3.2010 | N/A |
| British Gas - Price Guarantee 2010 | 30.3.2010 | £35 for electricity and £35 for gas |
| E.ON - Price Protection 2010 Version 11 | 1.4.2010 | N/A |
| E.ON - Price Protection 2010 Version 12 | 2.4.2010 | N/A |
| British Gas - Price Protection 2010 | 30.4.2010 | 30.4.2010 |
| E.ON - Energy Saver V7 | 1.5.2010 | £30 for electricity and £20 for gas |
| E.ON - FixOnline | 1.6.2010 | £30 for dual fuel and £10 for electricity only |
| ScottishPower - Online Energy Saver 5 Dual Fuel | 1.6.2010 | £30 for electricity and £20 for gas |
What should I do when my fixed price plan ends?
When your fixed plan is about to end, the first thing to do is find out which plan your supplier will be moving you to. This may be your supplier's 'Standard' plan, although some suppliers may offer you the chance to fix your prices again.
Standard energy plans are among the most expensive in the market and there are usually cheaper plans available. If you're offered the chance to fix your prices again, you may wish to take it, if you are willing to pay above-average prices in return for security against potential price rises in the future.
Once you know what energy plan you're being moved to:
What if I fixed my energy prices after August 2008?
If you fixed your prices after August 2008, you may find that your fixed price plan is no longer competitive when compared with the cheapest plans that are currently available.
If your fixed plan still has a long time left on the contract, it may be worth running a comparison and seeing if you could save money anyway - even after the exit penalty has been applied. But remember, you will lose the security of having a fixed price plan, so make sure you weigh up the options before switching.
What type of plan should I switch to?
If you're considering switching your gas and electricity, the cheapest plans are the online plans available from various suppliers. The advantages of these plans include:
- Cheaper rates due to lower administration costs for the suppliers
- Extra discounts
- Accounts can be easily managed online, although some do still offer paper billing if you prefer
- Meter readings can be submitted online for more accurate billing
Compare gas and electricity plans online today and find out which plan is cheapest for you.