What is an open-ended electricity contract?
An open-ended contract generally does not have a pre-agreed end date in the same way as a fixed-term agreement. Check the specific offer and contract for its pricing model and terms for ending the agreement.
Is an open-ended electricity contract right for me?
It may suit someone who does not want a pre-set long contract period and is comfortable with the offer’s pricing and terms. Compare options using your own consumption; the contract type alone does not tell you which offer costs less.
How does it differ from a fixed-term contract?
The main distinction is duration. A fixed-term offer has a stated contract period, while an open-ended offer generally has no equivalent pre-agreed end date. Pricing and other terms must be checked separately for each product.
Is open-ended the same as spot-price electricity?
No. Open-ended describes contract duration. Spot pricing describes how the electricity rate is formed. These are separate product details, so check the contract terms.
Can the price of an open-ended contract change?
Price changes depend on the offer and contract terms, as well as the rules in force. Check the supplier’s stated terms and current official consumer guidance. Contract duration alone does not specify how or when a price may change.
How do I end an open-ended electricity contract?
Check your agreement and the supplier’s instructions. Requirements can depend on your circumstances and the rules in force. For a specific notice period, confirm the current official consumer guidance or ask the supplier.
Are open-ended electricity contracts always more expensive?
There is no general answer. Total cost depends on the energy rate, monthly fee, your consumption and the pricing model. Compare offers using your own usage.
How does the monthly fee affect total cost?
The monthly fee is added to usage-based energy charges. It can make up a larger share of total cost at lower annual consumption, so compare it together with the energy rate.
How can I find an affordable electricity contract?
Enter your postcode and annual consumption in the comparison. The existing tool estimates costs from available product data and ranks offers when it can calculate an estimate. Check any post-promotion rate and the contract terms as well.
When might a fixed-term contract be a better fit?
A fixed-term offer may suit you if its stated period, pricing and terms fit your needs. Compare the actual product details and your circumstances; neither contract type is automatically better for everyone.
Electricity supply and distribution
This comparison covers electricity supply contracts. Distribution is a separate service from your local network operator and is not switched in the same way as your electricity supplier.