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.

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.

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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 £25 - £50 for switching away 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 kind of plans are currently on the market? Below is a table of the cheapest fixed plans currently available to switch through with uSwitch.

SupplierPlan namePrice
GNE Summer Special 12 Month Fix v5£978Compare now
Simple and uSwitch Sept£989Compare now
App Only Fixed v11£1014Compare now
uSwitch Exclusive Octopus 24M Fixed£1019Compare now
Energy Plus Boiler Cover Oct 2019£1020Compare now
Everything Online Green Oct 2019£1035Compare now
Fixed Term Tariff September 2018 Issue 2£1046Compare now
2 year price protect v1£1046Compare now
GNE Italian Touch 12 Month Fixed V17£1055Compare now
Easy Online Exclusive Sep19v4£1059Compare 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.

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What should I do when my fixed price plan ends?

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…

Why pay more for the same energy?

Find and switch to a better energy deal in minutes