28th July, 2009 Given the high temperatures this week, almost certainly the last thing on your mind is your gas and electricity bills. But if your fixed-price tariff is about to finish, you need to start thinking about switching. According to the industry regulator, Ofgem, around 4.6m households have fixed or capped price deals for gas and electricity. They were mainly trendy last year when prices were going up, or threatening to rise. But with a large number expiring in the next few weeks and months, consumers are being advised to think about their next move. Remember, it takes around six weeks to switch supplier. Our table shows which fixed-price deals are about to end and when. In almost all cases, those who took out one of these products have done well – particularly as the collapse in wholesale prices has once again failed to feed through to consumers. As with a fixed-rate mortgage, customers coming off these deals are automatically put on to the standard tariff, which, for typical gas and electricity consumers, will add an extra £100 a year to their bills.
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