When your fixed energy tariff concludes, it is time to act. Doing nothing usually means your supplier will automatically move you onto a Standard Variable Tariff (SVT), which can be more expensive and less predictable. Understanding your options and taking control can help you manage your energy costs effectively.
When your fixed energy tariff is coming to an end, it's the perfect time to review your options and ensure you're on the best plan for your home. Fuse Energy offers clear, straightforward tariffs designed to give you control over your energy costs. Click here to switch to Fuse Energy today.
What happens when your fixed deal concludes?
A fixed energy tariff locks in your unit rates and standing charges for a set period, typically between 12 and 18 months. When this period concludes, your gas and electricity supply continues, but your pricing structure changes. If you do not choose a new tariff, your supplier will generally move you to their SVT. These SVTs are subject to the Ofgem energy price cap, meaning their rates can change quarterly on 1 January, 1 April, 1 July, and 1 October.
Checking your contract details and end date
Your current energy bill or online account should clearly state your tariff name, contract end date, and any applicable exit fees. Knowing these details is crucial for making an informed decision. If you are unsure, contact your current supplier to get the exact end date and terms. Energy suppliers are legally required to notify customers when their fixed tariff is nearing its end.
What is a Standard Variable Tariff?
A SVT is an energy plan where the unit rates and standing charges can change. Unlike fixed tariffs, SVTs do not have a set end date and are not subject to exit fees. They are often the default option customers are moved to if they do not choose a new tariff when their fixed deal expires.
How the energy price cap affects SVTs
The energy price cap, set by Ofgem, the UK's energy regulator, limits the maximum amount suppliers can charge for each unit of gas and electricity on an SVT. This cap is reviewed and updated quarterly, influencing the rates of SVTs. For instance, Ofgem announced the energy price cap will rise by 13% from 1 July 2026, covering the period up to 30 September 2026. This means that customers on an SVT will see their rates increase from this date.
The potential cost of inaction
Automatically rolling onto an SVT can lead to higher energy bills, especially if wholesale energy prices are rising. Without actively comparing deals, you might miss out on more competitive fixed-rate tariffs or other variable options that better suit your energy usage and budget. According to Ofgem's Typical Domestic Consumption Values (TDCV), the average UK home uses around 2,500 kWh of electricity and 9,500 kWh of gas per year. These figures can help you estimate potential costs on different tariffs.
When your fixed tariff is ending, you have several choices to consider. Each option has different implications for your energy costs and predictability.
Switching to a new fixed-rate tariff
Opting for a new fixed-rate tariff means locking in your unit rates and standing charges for another set period. This provides stability and protects you from potential price cap increases during your contract term. However, fixed tariffs typically come with exit fees if you decide to leave early, outside of specific regulatory windows.
Choosing a variable-rate tariff
You could choose to move to a variable-rate tariff, which means your rates will fluctuate with the market, subject to the Ofgem Price Cap. While these tariffs offer flexibility with no exit fees, your monthly payments can change, making budgeting less predictable.
Staying with your current supplier
You can choose to remain with your current supplier, either by selecting a new fixed deal they offer or by allowing them to roll you onto their SVT. While this might seem the easiest option, it is crucial to compare their offers with the wider market to ensure you are getting a competitive deal.
Comparing energy deals and suppliers
To make the best decision, compare the available tariffs from various energy suppliers. Look beyond just the unit rates; consider the standing charges, contract length, and any additional benefits or services offered. Websites like Ofgem and Citizens Advice provide tools and guidance for comparing deals1.
Understanding exit fees and the 49-day rule
Fixed-rate tariffs usually include exit fees if you switch away before your contract ends. However, you can switch tariffs or suppliers without incurring these fees if you are within the last 49 days of your fixed contract. This regulatory window is a crucial time to explore your options and make a move without penalty.
Considering your energy usage and preferences
Your household's energy consumption patterns should influence your choice. If you have high, consistent usage, a fixed tariff might offer better budget certainty. If your usage varies significantly, or you prefer flexibility, a variable tariff might be more suitable. Consider whether you prioritise price stability or the freedom to switch at any time.
Gathering necessary information
Before initiating a switch, gather your current energy bill, which contains your Meter Point Administration Number (MPAN) for electricity and Meter Point Reference Number (MPRN) for gas. You will also need your address, bank details, and an up-to-date meter reading.
Initiating the switch process
Once you have chosen a new tariff or supplier, you can initiate the switch online or over the phone. Your new supplier will handle most of the process, contacting your old supplier and arranging the transfer. This typically takes a few weeks.
What to expect after switching
After your switch is complete, you will receive a final bill from your old supplier. Your new supplier will then begin billing you according to your chosen tariff. It is a good idea to submit a meter reading on the day of your switch to ensure accurate billing from both suppliers.
Managing your energy bills should be clear and easy to understand. Fuse Energy focuses on straightforward pricing, so you can see exactly what you're paying without unnecessary complexity. If you have a smart meter, you can view detailed usage data through the app or website, helping you understand how you can lower your bills. If you don't have a smart meter, Fuse Energy can upgrade your non-smart meter, completely for free. This can make it easier to track spending and make informed decisions about your energy use. Our human support team is always on hand with fast response times whenever you need help. Click here to switch to Fuse Energy today. Find out about our mission by clicking here.
