Scottish Power’s fixed deal ends

Commenting on Scottish Power's fixed deal coming to an end on Monday 31 August, Scott Byrom, utilities manager at moneysupermarket.com said: "British bill payers beware; the second fixed energy tariff to come to an end this year does so on Monday. The Fixed Price Energy Tariff 2009 from Scottish Power was a firm favourite with the 70 per cent of our customers who swapped to a fixed deal last year. By choosing a fixed energy tariff 12 months ago, they saved themselves an average of £134.50 a year against a back drop of sharply rising prices.

"Those Scottish Power customers will move to the Capped Price Energy deal which could see their bills jump by £134 a year.

"With nine more fixed deals set to end before the year is out, my advice to customers who have fixed deals expiring soon is to look to swap at least four weeks before the termination date of the deal to avoid automatically moving to a more expensive tariff. They should now be scouring the market for the next best alternative to avoid paying over the odds.

"Bill payers need to be aware that the big increases they face when their current deal ends could wipe out any savings they made when they fixed last year. Timing is crucial when proactively looking for a new energy product, move off your fixed rate too early and you could face termination fees of up to £75. Move too late and you might find yourself automatically switched to the standard deal or locked into a less attractive fixed deal which isn't the best as we move into the colder winter months when energy consumption tends to be higher.

"The UK energy market is in a state of flux at the moment with some major changes taking place, especially over the last week where we saw products from British Gas and E.ON both undercut the market leading tariff from EDF Energy in every individual UK region. British Gas' Websaver 4 tariff is now the cheapest in four out of the 14 regions and E.ON's Fix Online v3 tariff is the cheapest in the remaining 10 regions, however, the Online v5 tariff from EDF Energy still holds the title of the cheapest energy deal on average for the UK as a whole.

Although the new offering from E.ON is the cheapest for the majority of regions, fixing your bills in a falling price market is not always the best idea and only an appealing option for customers who want to protect themselves against any potential increases.

The introduction of cheaper energy tariffs couldn't have come at a better time for those coming out of fixed energy plans as customers now have more options to ensure they make yet more savings on their next energy deal. My advice would be to shop around for the best tariff in your area that suits your circumstances."