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.
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.
Compare energy prices here
It's a good idea to compare energy regularly to see what the latest prices mean for you, even though there are fewer deals available. Enter your postcode to get started.
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.
Fixed plans currently available
So you know the pros and cons of fixed price energy, but what kind of plans are currently on the market? Below is a table of the cheapest fixed plans currently available to switch through with Uswitch.
| Supplier | Plan name | Price | |
|---|---|---|---|
| UW Fixed 17 | £1625 | Compare now | |
| EDF Essentials 1Yr Apr25v3 | £1639 | Compare now | |
| Super Fix'd 12m Apr-24 v1.0 | £1642 | Compare now | |
| So Orange One Year - Green | £1688 | Compare now | |
| Exclusive Spring 100% Green 24M May 26 | £1964 | Compare now |
Based on average bill sizes for a medium energy user on a dual fuel plan paying by monthly direct debit, and averaged across all regions. This information is updated hourly with energy plans which are available to switch to through Uswitch. To appear in this table, plans must be available in at least 7 of the 14 regions.
Compare energy prices here
It's a good idea to compare energy regularly to see what the latest prices mean for you, even though there are fewer deals available. Enter your postcode to get started.
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.
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Read the transcript
Hi! If you’re on a fixed rate tariff, the date it ends is one you definitely need to put in your diary. Here’s why. With a fixed rate tariff, the fee you pay per unit of energy, and the daily standing charge, are set in stone for the duration of the plan. When your fixed plan comes to an end, it’s likely you’ll be rolled onto a standard plan. Standard plans are often more expensive than fixed plans and normally are variable, meaning you have the risk that energy fees can go up or down. This means that your bills could increase and you end up paying more for the same energy.
It's a good option to lock in a fixed rate around the same as - or cheaper than - the rate you’re paying now to save more and maintain your peace of mind.
When does my fixed plan end?
Your fixed plan will end on a set date, but you don’t need to wait until then to switch. You can move to a new plan 49 days before your current plan ends without paying an exit fee. Your supplier should let you know when your plan is coming to an end, but you don't have to wait to receive the reminder. If you’re within the 49-day limit, you can still check your bill or run a comparison.
What are you waiting for?
How easy is it to switch?
It generally takes 21 days to switch, but the process can be quicker. You won’t be charged twice or be without an energy supply at any point, so your switch should be completed without any issues. And remember, switching the plan you’re on doesn't always mean changing the supplier - if you’re happy with the supplier you’re with, they might have a cheaper tariff available you can switch to, rather than their default plan.
To find a new fixed rate, use Uswitch to make sure you’re getting a deal that matches your needs. Go to uswitch.com to get started.
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.
Read more …
- How to compare and switch UK electricity suppliers
- Is it time to change tariff? Why you should switch when your energy tariff ends
- Standard variable rate tariffs - a Uswitch guide