Is your fixed energy deal ending? It could cost you £150

Many consumers are in line for a huge increase in their energy bills if they don’t switch before the end of their current fixed price tariff

Time is running out on a number of popular fixed price plans

Time is running out on a number of popular fixed price plans

With more than ten popular plans coming to an end between now and 31July, consumers should switch as soon as possible if they are to avoid an increase of £94 per year on average.

Fixed price plans guarantee that consumers will pay a set amount per unit of energy over a certain period of time. When the plan ends, users are typically rolled over onto a more expensive energy tariff and will consequently see an increase in their energy bills.

The best way to guard against an increase is to switch to another fixed plan before your supplier moves you to a costlier option.

Which plans are coming to an end?

Popular plans coming to an end include EDF Energy’s Blue+Price Promise June 2014, which will see customers rolled over onto a plan £98 more expensive, and ScottishPower’s  Online Energy Saver 22, which will see consumers moved to a tariff worth an extra £132.

Plans ending table

Plan name

Average bill size 

End Date

Rollover Average bill size 

Difference

EDF Price Protection 2014

£1,081.56

30/06/2014

£1,163.60

£82.04

EDF Fix to June 2014

£1,081.56

30/06/2014

£1,163.60

£82.04

EDF Blue+Price Promise June 2014

£1,065.14

30/06/2014

£1,163.60

£98.46

British Gas Price Promise July 2014

£1,159.74

31/07/2014

£1,192.97

£33.23

Sainsbury’s Energy Price Promise July 2014

£1,159.74

31/07/2014

£1,192.97

£33.23

Sainsbury’s Energy Online July 2014

£1,094.37

31/07/2014

£1,192.97

£98.60

Sainsbury’s Energy Price Check July 2014

£1,062.91

31/07/2014

£1,192.97

£130.06

Scottish Power Online Fixed Price Energy August 2014

£1,102.25

31/07/2014

£1,199.12

£96.87

Scottish Power Online Energy Saver 22

£1,067.35

31/07/2014

£1,199.12

£131.77

Npower Online Price Fix Jun 2014

£1,054.81

30/06/2014

£1,204.92

£150.11


* Based on a medium usage customer using 3,200 kWh of electricity and 13,500 kWh of gas paying by direct debit with bill sizes averaged across all regions.

When to switch

According to energy regulator Ofgem’s rules, suppliers must send you a letter to inform you that your plan is ending between 42 and 49 days before it does. Your supplier must also let you know what your options are in terms of plans available should you want to stay with them. This list won’t include potentially cheaper plans from other suppliers.

Once you’ve received this letter you’re free to switch and any cancellation fees will be waived. At this point your best option is to run a price comparison to find out which deal offers you the most value. Switching as soon as possible will ensure you don’t get put on a more expensive plan and can start making savings right away.

Cheapest energy deals available

Consumers who do switch will be happy to know they will be able to choose between a number of cheap gas and electricity tariffs. At present, First Utility’s iSave Fixed Aug 2015 plan is the least expensive available, and costs £992 per year. This is the cheapest plan the market has seen in the past two years and includes a £30 per fuel cancellation fee.

Flow Energy’s Thames Online Fixed September 2015 plan is priced at £1,010 and does not carry any cancellation fees. At the lower end of the best buy table, the sole representative from the big six, EDF Energy and its Blue+Price Promise August 2015. The latter does not carry any exit fees.

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