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Fixed rate plans

A "fixed price" energy tariff means that your unit rates stay at one price for the duration of the plan, which usually lasts from 12 months to two years.
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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.

What are the pros and cons of fixed price energy plans?

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:

Pros

  • 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.

Cons

  • 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.

Should I get a fixed price energy plan?

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.

What should I do when my fixed price plan ends?

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 onlineYou 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.

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