For a high number of consumers, locking into these deals made perfect sense - they wanted to protect themselves from any further price increases.
However, the fixed terms on many of these products are about to end, so what should you do now?
The good news is that the landscape has changed significantly since last year and energy costs have actually come down. Just last week E.ON announced that it was cutting its standard gas price by 3.3%, reducing the average annual bill by £25. We may even see further price cuts from other providers in the coming weeks and months.
Against this backdrop, you may decide that you don't need to lock in to another fixed-rate deal - fixed tariffs tend to be more expensive than variable rates and, certainly at the moment, the cheapest products are variable rate online deals.
UK households could save an average of £170 a year each by switching how and when they pay for their energy - as a nation, that's a potential saving of £2.3billion a year.
Find out when
If you are not completely clear when your fixed-rate tariff comes to an end then phone your supplier and find out.
The last thing you want is to be automatically shifted onto an unfavourable standard tariff, so be ready for the change and move quickly to the most competitive deal.
Your supplier should inform you before your fixed rate ends, but there is no harm in being proactive and contacting it first to make sure you move to the cheapest deal available as soon as you are able.
Don't accept the standard
The difference between some providers' standard tariffs and the best deals available can be incredible.
Customers on Scottish Power's standard deal, averaging £1,361.95 a year, could save almost £300 by moving to the Online Energy Saver 5 deal, which charges an average of £1,064.25.
The very best deals on the market at the moment are web-based, monthly direct-debit tariffs, as these cut out a huge administrative burden for providers.
Moving bills online allows customers to enter their real meter readings regularly, meaning an end to estimations and more accurate billing.
It also makes it easier to monitor your usage and manage the energy you consume - which can be good for the environment as well as the pocket.
British Gas' Websaver 3 deal is the best for the average household. However, depending on your usage and where in the country you live, you may be able to get a better deal elsewhere.
comparison tool makes identifying the best deal simple - you just need to enter your postcode and details of your current gas and electricity provider as well as the amount you pay or your consumption, and it will compare prices from all the main providers and show you how much you could save by switching.
For more information, watch our video '
How to switch your energy provider'.
Instead of being hit with a whopping quarterly bill every three months, why not switch to a monthly direct debit?
This allows you to spread the cost of your energy consumption equally over the year, which can also be useful when planning the household's finances.
It also helps homes qualify for the top rates available - most providers offer a discount to those who opt to pay monthly.
Do the maths
If you are locked into your tariff for some time yet, it may be worth examining what exit fees you would have to pay in order to escape your contract and move to a more competitive deal.
Obviously, there is no point in moving if the savings you would make over the remaining contract period would be less than the cost of getting out of the fixed deal.
However, if your bills seem extraordinarily high then spend a few minutes with moneysupermarket.com's comparison tool, to see if it's worth switching.
Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing.
Rate This Article
Click on a star to rate this article.