If you have a fixed price plan and your supplier announces a price rise, your rates will not change because they are "fixed". Fixed rate tariffs offer energy cost security, and are often some of the cheapest deals out there — compare now to find a competitive fixed price tariff for your home.
If you’re still unsure about switching to a fixed price plan, check out our quick list of pros and cons of fixed rate energy:
Saving money in the long term, and peace of mind that price rises won’t affect your household
Having options — fixed rate energy plans have become so popular that you have your choice for cheapest, longest fix, and with or without an early exit fee
Choice of supplier — nearly all energy suppliers offer a fixed rate plan now, and you can quickly compare fixed rate plans from one supplier to the next
Still getting a competitively priced energy plan — nearly all of the cheapest energy plans are fixed rate plans.
A price decrease announcement, meaning you're paying over the odds. (However, you can find fixed plans that do not have a cancellation fee, so you’re free to switch plans if prices drop)
Early exit / cancellations fees. These can range between £5 - £60 for switching away each fuel type before your tariff ends.
Still not sure if you want to take the gamble? It might boil down to how you feel about your current financial situation, and how often you anticipate being able to compare the energy market for better deals.
If you are comfortable in paying a slight premium on your energy now for protection in the future, then you should compare fixed rate plans.
You can always run an energy plan comparison to see all the plans out there that offer savings on your current plan. Then check which of those plans are fixed rate plans.
You should have the date on which your fixed plan ends marked on your calendar. Our video explains why.
It's important to know that when your fixed plan ends and you do not proactively switch to a new plan, your supplier will roll you on to their standard tariff. This tariff is their most expensive.
To avoid your energy costs going up, compare all available energy plans online. You can do this up to 49 days before your fixed plan ends, even if you have an early exit fee.
To learn more, read our energy tariff ending guide.
Discovering what a utility bill includes will help you understand how, why and what you have been charged by an energy supplier. Utility bills can contain a number of additional charges, facts, and figures on your home usage.Learn more
Looking for a cheaper gas or electricity supplier but not sure where to start? Check out our step-by-step guide on how to find a better energy supplier.Learn more
Knowing when your energy tariff is ending will help you save - don't get rolled onto a more expensive energy tariff when your energy plan ends.Learn more