Is your fixed rate energy tariff ending in August 2016?Compare gas and electricity deals to save money
25 August 2016
Though the sun is shining and turning on your heating seems a distant prospect, it’s worth keeping an eye on your energy deal to make sure you’re on the best tariff for when it matters most – and start saving money now.
Energy prices have risen in the last few months, but electricity and gas in particular are still cheaper than this time last summer. This means that now is a good time to switch to a new fixed rate energy tariff in case prices rise even faster when the weather turns colder.
To help you find the best deal, we’ve listed the fixed energy tariffs coming to an end this month below and the cheapest new deals you could switch to.
Find out how much you could save by switching energy supplier using our independent energy switching site Which? Switch.
Fixed energy deals ending in August 2016
When your fixed energy tariff comes to an end, most energy suppliers will automatically roll your contract onto its standard variable tariff. This is often the most expensive one it offers.
So if your fixed energy tariff is listed below, you should consider switching to a new cheaper tariff soon. Your bill will tell you exactly when your tariff expires. If you’re already on a standard variable tariff, there is no end date so you can switch at any time.
If you’re with British Gas and have a prepayment meter, the end of your fixed deal could see your energy bills fall since its standard prepayment tariff is currently cheaper than the fixed deal ending this month. But that doesn’t mean you should stay put. You could save a further £84 per year by switching to the cheapest prepayment tariff available across the UK (currently from iSupply Energy.
|Fixed energy deals ending in August 2016|
|Supplier||Tariff||Average price of tariff across the UK||Standard tariff||Average price increase|
|British Gas||Fixed Price August 2016 (prepayment)||£1,122||£1,102||-£20|
|Co-operative Energy||Fixed August 2016 - Paperless||£949||£1,089||£140|
|First Utility||iSave Fixed August 2016 - Paperless||£877||£1,047||£170|
|Npower||Online Price Fix August 2016 - Paperless||£992||£1,077||£85|
|Sainsbury's Energy||Price Promise August 2016 - Paperless||£928||£1,044||£116|
|Sainsbury's Energy||SE Fixed Price August 2016 - Paperless||£863||£1,044||£181|
|Sainsbury's Energy||SE Price Freeze August 2016 - Paperless||£978||£1,044||£66|
|Scottish Power||Online Fixed Price Energy August 2016 - Paperless||£897||£1,070||£173|
Switch energy supplier without an exit fee
If you’re in the last 49 days of your fixed energy tariff, your energy supplier is not allowed to charge you an exit fee. It also has to let you know that your tariff is coming to an end. When it does so, it should also tell you about cheaper tariffs you could choose – but remember it will only list its own tariffs – not the entire market.
So it’s important to compare energy prices to find the best tariff for you. Many of the cheapest energy deals this month do not charge exit fees on their fixed tariffs.
Top five energy deals in August 2016
The top five cheapest gas and electricity deals this month are:
- Avro Energy – Simple and Select - £770
- First Utility – First Fixed August 2016 v6 online only - £778
- So Energy – So Falcon - £779
- GB Energy Supply – Fixed 12 Crystal - £780
- SSE – SSE 1 year Fixed v8 - £782
The prices shows above are provided by Energylinx, based on the details of a dual fuel medium user who uses 12,500kWhs gas and 3,100kWhs electricity per year, pays by monthly direct debit and chooses paperless billing. Prices are averaged across all UK regions and correct as of 22 August 2016.