Energy markets are not static. Tariffs change. Wholesale prices fluctuate. Fixed contracts expire. Standard variable rates adjust. If you never review your energy tariff, you are almost certainly not on the most cost-effective plan available. In this guide, we will explain from first principles how energy pricing works, when comparison becomes essential, and how often households should realistically review their electricity and gas tariffs to avoid overpaying.
First Principles: Why Energy Prices Change
Wholesale markets
Global supply and demand
Infrastructure costs
Distribution and maintenance
Regulation
Government price caps
Suppliers buy energy in advance, then package it into tariffs. When wholesale costs rise or fall, suppliers adjust: standard variable tariffs (SVTs), new fixed energy deals, and standing charges. Because of this, the "best energy deal" today may not be the best deal in six months. Energy comparison is not a one-time event. It is an ongoing financial habit.
The Core Rule: Compare at Least Once Per Year
As a general rule, Utility King recommends comparing energy prices at least once every 12 months.
Why annually? Most fixed energy tariffs last 12 months. When that contract ends, customers are usually moved automatically onto a standard variable tariff. Standard variable tariffs are often more expensive than competitive fixed deals. If you do nothing when your contract ends, your annual energy bill may increase without you realising. An annual energy price comparison prevents passive overpayment.
The Most Important Moment to Compare
Before Your Fixed Tariff Ends
The single most important time to compare energy deals is: within the final 1–2 months of your fixed contract.
49 days
In many regulated markets, you can switch without exit fees in the final weeks before your contract ends.
Failing to act during this window often results in automatic transfer to an SVT. At Utility King, we frequently see households paying significantly more simply because they missed their contract renewal window.
What If You're on a Standard Variable Tariff?
If you are currently on a standard variable tariff, you should compare energy prices immediately. SVTs have no fixed end date, allow suppliers to adjust rates, often track regulatory price caps, and rarely offer the lowest available pricing.
There is usually no exit fee for leaving an SVT. This means there is little reason not to compare and switch if a better deal exists. Remaining on an SVT long-term is one of the most common causes of unnecessary energy overspending.
During Market Volatility?
Yes — but strategically
During periods of energy market instability:
- Wholesale prices can change rapidly
- Fixed deals may disappear or reappear
- Price caps may adjust
In volatile markets, reviewing energy tariffs every 6 months can be sensible.
Not constant switching
However, constant switching is not always beneficial. The goal is not frequent switching — it is informed switching.
Life Changes That Trigger Comparison
Changes in energy usage alter the type of tariff that may be most cost-effective. Your ideal energy plan evolves with your circumstances.
Pensioners & Energy Reviews
For households on fixed retirement income, regular comparison is particularly important. We recommend:
- Reviewing tariffs annually
- Prioritising fixed-rate stability
- Checking eligibility for support schemes
Predictable energy costs are critical when income flexibility is limited.
Rural Homes & Energy Reviews
If you live in a rural property, energy comparison may require additional attention. Rural households often face: higher electricity consumption, off-grid heating systems, and regional standing charge differences.
Comparing energy prices annually is essential, but reviewing electricity-only tariffs more frequently may also be beneficial if you rely heavily on electric heating.
The Risk of Comparing Too Frequently
While energy comparison is important, excessive switching can have downsides. These include:
Energy strategy should balance flexibility and stability. The objective is sustainable savings — not reactive switching.
How Long Does Comparison Take?
20 minutes
With accurate usage data, comparing energy suppliers properly takes less than 20 minutes. You need: your postcode, annual electricity usage (kWh), annual gas usage (kWh), and current tariff details. The time investment is small compared to potential annual savings.
Utility King's Perspective
At Utility King, we believe energy comparison should become a routine financial check — like reviewing insurance or broadband contracts.
Once per year
Compare energy prices annually
1-2 months before
Review before contract expiry
Immediate review
If on standard variable tariff
After life changes
Reassess after major changes
Energy markets reward active consumers. Loyalty rarely produces automatic savings. The households that manage energy costs effectively are not constantly switching — but they are consistently reviewing.
Frequently Asked Questions
At least once per year, and always before your fixed contract ends.
Yes. SVTs are often more expensive than competitive fixed deals.
Yes, but exit fees may apply unless you're within the final weeks.
Not necessarily, but switching strategically is more important than switching often.
Not typically, but suppliers may adjust tariffs in response to market conditions.
Compare your total annual cost against current market offers using actual usage data.
Unsure when you last reviewed your tariff?
Let Utility King help you compare energy prices — quickly, clearly, and strategically.