Experts are advising Brits to compare and switch energy tariffs now, as eight fixed deals from the ‘big six’ energy providers are coming to an end.
If you are on one of the eight fixed-rate energy tariffs that are coming to an end soon, now is the time to compare deals and consider switching to a new deal.
If you don’t make a move, you may be automatically switched onto your provider’s standard energy tariff, resulting in a potential bill increase of £165 a year, according to Moneysupermarket.com. However, switching to the cheapest online deal could save you as much as £348 a year.
To see how your current tariff compares to the cheapest deals available, use the Which? Switch energy bill calculator. Simply enter your postcode and usage details to find out how much you could save by switching.
Energy tariffs ending soon
The following tariffs are due to finish at the end of June:
- Scottish Power’s Capped Price Energy July 2010
- EDF’s Annual Fix v3
- British Gas’ Price Promise June 2010
These tariffs will end on 1 July:
- Eon’s Price Protection 18
- Eon’s Fixed Price 3
- Eon’s Energy Saver v5
- Eon’s Energy Saver v6
And Scottish Power’s Fix ‘n’ Flex will come to an end on 4 July.
Time your switch right
Head of switching at Which? Switch Alison Morrison advises: ‘Timing is key if you want to make sure your switch runs smoothly. Switching energy suppliers typically takes around six to eight weeks, so you’ll want to start the process before your deal ends.
‘However, when the new energy company you choose to switch to contacts you, you need to make sure your switching date is not earlier than the end of your fixed-rate deal. Otherwise you could be landed with exit penalties from your current supplier.’
Lower your gas and electricity bills
You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.
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