Some energy tariffs are fixed or discounted for a certain period of time, but what happens when they end, and what should you do?
When your tariff end date comes around it's important that you take action or you could end up out of pocket.
Plans ending soon
Energy tariffs come in all shapes and sizes, but those with fixed, capped or discounted prices have become increasingly popular, offering a guarenttee on prices and peace of mind. That is until the tariff end date.
Typically your supplier will then revert you onto a more expensive tariff, often their 'standard' tariff with the highest rates, meaning higher bills unless you take action.
Some of the biggest fixed price plans will ending in the next few months (see below). To find the cheapest tariff on the market just pop your postcode into the green box, or hit the 'compare' button in the table.
ScottishPower plans ending
British Gas plans ending
Sainsbury's Energy plans ending
What should I do if my energy tariff is ending?
When your energy tariff or discount is about to end, you should get a letter from your supplier giving you a warning and telling you what they are going to do with your account.
Read this letter carefully - in some cases you could be automatically 'rolled-over' onto a new tariff unless you tell your supplier otherwise.
The tariff may be your supplier's 'standard' plan, an online plan or a fixed plan. This may not be right for you because:
- standard plans are among the most expensive in the market,
- the online plan you're given may not be the most competitive for you,
- online and fixed plans sometimes come with an exit fee that means you have to pay if you decide you want to switch.
When you've got this letter, come to uSwitch and compare all available energy plans to find the best deal for you. You can either use the tariff that's ending or the tariff that your supplier wants to switch you to to do your comparison. Just remember to use the number of kWh you use in an year so that you get the most accurate result.
If you decide to switch, you need to get your timing right - if you leave it too late you could already have been rolled onto a new tariff with an exit 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.
I've compared prices there's nothing cheaper - what should I do?
If your tariff was very competitive you may find that there's nothing that's cheaper on the market at the moment.
This doesn't mean that you shouldn't switch - your tariff is ending so you have to switch to a new one. Rather than looking for a big saving, look for a tariff that offers the lowest possible price.
What type of energy tariff should I switch to?
If you're considering switching your gas and electricity, the cheapest plans are the online tariffs 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.