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Mobile Phone Tariff Cancellation

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I am on a rolling 30d contract with EE - they have sent me a text (and I cannot see any reference to this when I login on my PC) that says my tariff is ending.

This tariff was created when they bought out Plusnet and took over their customers - it has always been way cheaper than anything they offer publicly. I assume that they have waited a certain period before now pulling the rug beneath these customers and I assume that this is legal and I have to either accept a new tariff with them or move on. 

The new tariff essentially DOUBLES what I pay per month - and of course, will increase by £3ish per year as they are allowed to do (not sure what other industry is allowed to increase prices by this much per year without offering anything further and sometimes reducing your package). 

So is this all perfectly legit and I can choose to stay at the hiked price or move on?

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