What to Do If Your Energy Deal Is Ending Soon
THE QUICK ANSWER
Do not wait for your fixed tariff to expire before checking your options. Find the end date, annual gas and electricity use, current rates and any exit fee. Once 49 days or less remain, you can normally switch without paying an exit fee. Compare your supplier's renewal offer with other available tariffs, check the estimated annual cost and full terms, then either switch, choose a new deal with your existing supplier or deliberately move onto a variable tariff.
Why the end of a fixed tariff matters
When a fixed energy tariff ends, the rates you agreed for that deal stop applying. If you do nothing, your supplier will usually move you onto its standard variable tariff. That may be suitable, but it should be a conscious decision rather than an accidental one.
The weeks before the end date are valuable because they give you time to compare properly. You can review your supplier's renewal offer, look at other suppliers, check whether a fixed or variable tariff suits you and avoid making a rushed choice.
There is no guarantee that switching supplier will always save money. The goal is to compare like with like and make sure the next tariff fits your usage, budget and need for flexibility.
Your seven-step energy-deal ending checklist
Find your annual consumption
Look for annual electricity and gas use in kWh. Actual usage normally produces a more meaningful comparison than a generic household estimate.
Check your current tariff terms
Record the unit rates, standing charges, payment method and any exit fees for gas and electricity.
Read the renewal notice carefully
Identify the tariff your supplier is offering, what happens if you do nothing and when any new rates begin.
Compare the wider market
Compare estimated annual cost using the same consumption figures, not only the monthly direct debit.
Choose between fixed and variable
Consider rate certainty, contract length, exit fees, flexibility, meter requirements and customer service.
Confirm and keep evidence
Save the tariff summary, confirmation email and meter readings. Check the first bill after the change.
The 49-day switching window
If your fixed tariff has 49 days or less remaining, Citizens Advice says you can switch without paying an exit fee. If 50 days or more remain, an early-exit fee might apply, so check with the supplier.
You do not need to wait until the tariff's final day. Starting during the switching window gives you time to compare and arrange the next deal. Suppliers are required to communicate with customers approaching the end of a fixed term, but you should still keep your own reminder.
Add a reminder around seven weeks before the tariff end date. BillGoose can also use a saved renewal date to prompt you when it is time to compare.
What happens if you do nothing?
You will usually be moved onto your supplier's standard variable tariff. These tariffs typically have no fixed end date and can normally be left without an exit fee.
Standard variable tariffs in Great Britain are generally covered by Ofgem's price cap. The cap limits the unit rates and standing charges that can be applied to eligible default tariffs; it does not cap your total bill. The amount you pay still depends on how much energy you use.
Moving onto a variable tariff is not automatically a mistake. It can provide flexibility and may be competitive with available fixes. The mistake is allowing the change to happen without comparing the annual cost and terms.
Should you accept your supplier's renewal offer?
Your current supplier may offer another fixed tariff. Staying can be convenient because there is less administration and the supplier already holds your account details. Convenience alone is not enough to show that the renewal offer is competitive.
Before accepting, check
- The estimated annual cost using your current annual consumption.
- The electricity and gas unit rates.
- The daily standing charges.
- How long the new fixed period lasts.
- Whether exit fees apply separately to each fuel.
- Whether the tariff requires a smart meter or a particular payment method.
- Whether a reward or discount is temporary.
- How the offer compares with other suppliers and with the standard variable tariff.
Fixed again or move to a variable tariff?
| Consideration | A new fixed tariff | A variable tariff |
|---|---|---|
| Rates | Usually set for the fixed term. | Can rise or fall under the tariff terms. |
| Bill certainty | More certainty about rates, but total cost still depends on use. | Less certainty because rates may change. |
| Flexibility | An exit fee may apply if you leave early. | Usually no exit fee on a standard variable tariff. |
| Market changes | Protects against some future increases but can miss reductions. | Can benefit from reductions but is exposed to increases. |
| Best suited to | Customers who value rate certainty and accept the contract terms. | Customers who value flexibility and can tolerate price changes. |
Compare annual cost, not just monthly direct debit
A monthly direct debit is a payment arrangement, not the tariff price. A supplier can set or adjust the payment based on expected annual usage and the account balance.
For a fair comparison, use the same annual gas and electricity consumption for every tariff. Review the estimated annual cost, then look at unit rates, standing charges and contract conditions.
A Lower Monthly Payment is Not Proof of a Cheaper Tariff
A direct debit can be set too low and later increased. Focus on the estimated yearly cost based on accurate kWh usage.
Check whether your usage has changed
Do not automatically reuse an old estimate if your household has changed. Working from home, an electric vehicle, a heat pump, solar panels, more occupants or a change in heating can all affect the tariff that suits you.
If recent bills were estimated, submit an up-to-date meter reading before comparing. Smart meters can provide accurate readings when operating in smart mode, but you should still check the figures used.
Special tariffs and meter types
Some homes need more than a standard single-rate comparison. Check carefully if you have Economy 7, another time-of-use tariff, storage heaters, an electric vehicle tariff, a heat-pump tariff, prepayment, a Radio Teleswitch Service meter or a specialist meter setup.
Confirm that the new tariff is compatible with the meter and the way you use energy. A cheaper off-peak rate may not save money if most electricity is consumed during expensive peak hours.
What if you want to leave before the 49-day window?
Check the exit fee and compare it with the likely saving over the remaining term. It can sometimes be worth paying an exit fee if the new deal produces a larger net saving, but future costs are estimates rather than guarantees.
Calculate the possible saving, subtract all exit fees and consider how long remains on the current tariff. Check whether the fee applies separately to gas and electricity.
What happens during a supplier switch?
The physical supply should not be interrupted. Your gas and electricity continue through the same pipes, cables and meters while the account moves to the new supplier.
Ofgem says a switch requested as soon as possible should normally complete within five working days, although you can ask for a later date. Domestic customers normally have a 14-day cooling-off period.
Take meter readings when requested and keep a dated photograph where practical. Your old supplier should send a final bill within six weeks of the switch. If the final bill shows a credit balance, the supplier should refund it within 10 working days of sending the final bill.
Common mistakes when a tariff is ending
- Waiting until after the end date before checking alternatives.
- Assuming the supplier's renewal offer is automatically the best option.
- Comparing direct-debit amounts rather than annual cost.
- Using estimated consumption when accurate kWh figures are available.
- Ignoring standing charges or exit fees.
- Choosing a tariff that does not work with the meter.
- Fixing for a long period without considering a possible house move.
- Switching on price alone without checking service, billing and support.
- Failing to keep the confirmation and final meter readings.
When switching may need extra care
- You owe your supplier money. Debt can affect switching rights depending on how long it has been outstanding and the meter type.
- Your landlord pays the energy supplier. You may need the landlord to make the change.
- You are supplied through a heat network. Heat-network customers cannot normally switch supplier in the same way.
- Your supplier has failed. Follow Ofgem's instructions while a new supplier is appointed.
- You receive supplier-specific support or have a payment arrangement. Check how a change would affect it.
- You are on the Priority Services Register. Tell the new supplier about any support needs.
Ready to compare before your tariff ends?
Have your latest bill or online account open. Enter your postcode, annual gas and electricity use, current tariff and end date. BillGoose can help you compare the estimated yearly cost and key terms before your current deal expires.
Your decision in one minute
Ask these five questions: 1. What will happen if I do nothing? 2. Can I switch without an exit fee? 3. Which option has the lowest credible annual estimate for my usage? 4. Do the contract, meter and payment terms suit me? 5. Do I value fixed rates or flexibility more? The answers should make the next step clearer.
