Fixed rate energy deal coming to end? Time to review your tariff
There's a shock in store for some fixed price customers as 6 tariffs from big name providers, some from as far back as 2006, come to an end over the next couple of months, potentially exposing them to higher rates.
Millions of households committed themselves to fixed rates in the face of massive price rises in 2008 but with an online price war raging, now is definitely the time to review what to do next.
Gareth Kloet, head of utilities at Confused.com says "it is absolutely vital that customers do not allow themselves to be automatically switched to their provider's standard tariff, which is what will happen if they do nothing. The end of an existing fixed rate does not necessarily mean a bill increase if customers shop around for the best deals, as now, more than ever before, there are new competitive deals coming up every week.
"Customers need to shop around to find the most appropriate tariff currently available. Apathy does not pay when it comes to getting the best deal on energy, with suppliers rewarding customers who go online and actively seek out the savings. The most suitable tariff will depend on your unique circumstances and the type of tariff you are looking for but as a general rule, opting to take both gas and electric from a single provider, opting for an online tariff and paying by direct debit will yield the maximum savings which are often not available without going online or using a Consumer focus accredited energy price comparison website such as Confused.com.