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Is your energy bill about to rocket?

Is your energy plan one of the 31 coming to an end in the coming weeks? If so, watch out because your energy supplier might be getting ready to roll you onto a more expensive variable tariff.

Read on to find out what this means for your energy bills, and what you should do about it if this is one of your tariffs.

Are my energy bills going to go up?

If you’re on one of the popular energy plans ending in the near future, it is likely you will be rolled over onto your supplier’s variable tariff.

Variable tariffs, also known as standard tariffs, fluctuate in accordance with energy prices and are typically the most expensive available.

Bearing this in mind, it’s no surprise that if your plan ends and you move onto a more expensive plan, your energy bill will increase.

How much your bill will go up by depends on which fixed price plan you are on. For example, customers on British Gas’ Fixed Price February 2015 will see their bills increase by roughly £100 per year if they are rolled over, while npower customers on the Online Price Fix February 2015, can expect an increase of about £160 per year.*

How can I find out if my plan is ending?

Your energy supplier is required to let you know your plan is ending 42 – 49 days before it ends. Once you receive this information, you are free to switch to a new energy tariff and will not have to pay any exit fees associated with your plan.

Not sure if you were notified? Your plan’s end date is written on your energy bill.

My plan is ending, what should I do?

As soon as your supplier notifies you your plan is ending, you can start looking for a better deal. The easiest way to do this is through a price comparison website. We recommend using more than one to make sure you see as many options as possible.

New rules mean you can switch to some energy suppliers in just 17 days, but you shouldn’t wait until your current deal ends before making a move. This is because you might end up being rolled over onto the more expensive variable deal before your switch goes through.

*Figures based on a medium user, consuming 3,200 kWhs of electricity per year and 13,500kWhs of gas per year.

Are you on one of these energy tariffs? Did you know this means you can switch to a better deal for you?

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