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Fixed-price energy deals
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What are fixed-price energy tariffs?
Fixed-price energy tariffs can help you lock in your unit rates for one or two years, giving you more certainty over your energy costs.
Fixed-rate deals usually last between 12 and 24 months, but they don’t mean your bill will be the same each month. You lock down the price you pay per unit, but not how many units you consume. The more energy you use in a month, the more you’ll pay – the same as ever.
The other main type of energy deal is the standard variable-rate tariff. These allow for market changes, so a surge in global energy prices can mean higher bills than expected – but if the prices fall, you’ll be paying less.
What are the pros of fixed-price energy tariffs?
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Cheaper than variable-rate tariffs (usually)
Fixed-rate tariffs can sometimes be cheaper than standard variable tariffs, especially when suppliers are competing strongly for new customers.
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Protect yourself from price hikes
Oil and gas prices can spin on a dime, but they can be very attractive indeed when they’re low. Fixed tariffs let you take advantage of favourable market conditions
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Control your monthly spend
Because you know how much each unit will cost, you can take control of your bills. If you end up with an expensive month, you’ll know you need to cut back on usage
Not ready to switch? Sign up for price alerts
By comparing energy tariffs with us, you can also sign up for Energy Alerts so you will hear about new deals and exclusive tariffs as they appear.
What are the cons of fixed-price energy tariffs?
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Locked-in pricing in a falling market
The flipside to being protected from price hikes is that you won’t benefit if energy costs come down on global markets, as your unit price won’t change
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Exit fees if you change your mind
You might face exit fees if you decide to switch before the end of your contract. Not all fixed tariffs have them, but those that do will charge between around £10 to £30 per fuel
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You need to act before the deal ends
If you do nothing when your fixed term comes to an end, you’ll more than likely be switched to your supplier’s standard variable-rate tariff – which will probably be quite expensive
Is it best to switch to a fixed energy deal?
Previously, fixed-rate energy tariffs were usually cheaper than standard variable ones. However, in current market conditions it's difficult to say whether switching to a fixed energy deal will save you money.
This is because prices are still fluctuating, and being locked in a fixed rate might cause you to miss out on savings, should prices fall.
On the flip side, a fixed energy deal could protect you from any future price rises. For that reason, it's still well worth taking a look to see which fixed deals are available right now.
A good rule of thumb is to compare any fixed tariff against the current Ofgem energy price cap
Which is better? A fixed or variable energy rate?
Historically, fixed energy deals were often cheaper than standard variable tariffs. Since the energy crisis, however, the gap between fixed and variable deals has narrowed and the best option can change depending on market conditions.
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Fixed-rate tariffs
The price per energy unit is fixed for a set period of time, usually 12 to 24 months
You're protected from price hikes, but at the same time you could miss out on potential savings if prices fall
If you want to leave your contract early, you may need to pay exit fees
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Standard variable energy tariffs
The price per unit of energy will change every month, depending on the wholesale price of energy
You're vulnerable to price rises, but you can also make savings should energy prices fall
More flexible, as you're not tied to a contract and you're free to change without paying any exit charges
Switching supplier?
When switching is available, you can be with your new supplier within five working days with no interruption to your service. Everything is handled by your new provider, so all you need to do is compare energy prices and find a deal that suits you.
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We’ll search for tariffs
We’ll browse the market for deals and show you what you can get if you switch suppliers with us.
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Switch & relax
Once you’ve started your switch you won’t need to do a thing – your new provider will take care of everything.
What’s happening with the Winter Fuel Payment?
For winter 2026 to 2027, you may qualify for Winter Fuel Payment if you were born before 28 June 1960. Most eligible people are paid automatically.
Under current rules, pensioners with taxable income above £35,000 may have the payment reclaimed through HMRC.
Eligibility rules can change, so it’s worth checking the latest government guidance.
What other financial help is available for energy bills?
You may still qualify for schemes such as the Warm Home Discount or Cold Weather Payment, depending on your circumstances and benefits.
The Warm Home Discount currently provides a £150 discount on electricity bills for eligible households.
Cold Weather Payments are triggered in some areas when temperatures stay at, or are forecast to stay at, 0°C or below for seven consecutive days.
Worried about racking up large heating bills this winter? Get tips to help keep your bills down with our handy energy-saving guide.
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Our expert says…
A fixed-price energy tariff can give you more certainty over what you might pay in energy costs, allowing you to get a better grasp of your household finances. It might also save you money when compared to standard variable tariffs, but do your research first. Fixing for two years could see you pay more than you have to if energy prices stabilise.
Ashton Berkhauer Home & Utilities Expert
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Gas & electricity
Don’t take price rises lying down
We’re constantly looking for better energy deals for you. So when the market returns to normal, we'll do all we can to put you in control of your bills.
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Business energy
Cut your business energy costs
Whether you run a small business or something larger, high energy bills can cause your costs to rocket. We can help find the right business energy supplier for you.
Are fixed-rate tariffs cheap?
Fixed-rate tariffs ultimately depend on the conditions of the energy market – if wholesale prices are high, fixed deals will be less attractive. Generally speaking though, if market conditions are good and you shop around, a fixed-rate tariff will be better value than a variable-rate one.
What happens at the end of a fixed-rate tariff?
When your fixed-rate agreement comes to an end, your supplier will probably switch you over to a standard variable-rate tariff, meaning your prices will no longer be fixed. And while variable tariffs can be good value, they’re often less economical than the fixed tariffs they replace. It’s always worth shopping around a month or two before your fixed tariff comes to an end.
Are there any hidden charges or exit fees when switching?
If you’re on a fixed-term tariff, you might have to pay an exit fee if you switch – it depends on the tariff you have (you’ll find details on your supplier’s website, on your bill, or in your welcome pack). But even if you’re on a tariff that imposes exit fees, these cannot be charged if you’re within 49 days of the tariff’s end date.
Your provider will write to you when your tariff is coming to an end so that you have six weeks or so to find another tariff.
If you decide to switch earlier and your tariff imposes exit charges, you will have to pay for each fuel. So if the tariff has a £30 exit fee and you’re switching both gas and electricity, you’ll pay £60.
Exit fees vary according to the tariff, but it’s always important to make sure that the amount you save by switching is greater than the amount you pay in fees to your old supplier.
What is the cheapest energy tariff on the market?
The amount you pay for your energy will depend how much you use. The prices you see quoted are based on average consumption as defined by Ofgem, the market regulator.
In normal circumstances, the cheapest tariff on the market will usually be a fixed-rate, fixed-term dual fuel (gas and electricity) deal, paid monthly by direct debit.
Note that it is the price per unit of energy that is fixed – the amount you pay will vary in line with your usage.
With a variable rate tariff, the rate per unit can go up or down, leaving you vulnerable to price hikes.
Variable rate deals are also known as ‘default’ tariffs. If you are on a fixed-term deal and do not switch at the end of the term, you will move to your supplier’s default tariff. If you haven’t switched for a few years, or ever, you’re likely to be on a default tariff.
Fixed-rate tariffs tend to be cheaper than variable rate alternatives, sometimes by a significant margin.
What is the energy price cap?
The energy price cap is Ofgem’s limit on the unit rates and standing charges suppliers can charge on standard variable tariffs. It is reviewed every three months, so the figure changes regularly.
The energy price cap is currently £1,641
Can you switch tariff from a prepayment meter?
It is possible to switch from a prepayment meter to a credit meter if you are not in debt to your current provider. You might have to go through a credit check.
Some suppliers charge a fee to change your meter, but there are plenty who don’t, so it’s worth shopping around for the best deal to see if you can save money.
If you are unable to switch from your prepayment meter, you may be able to switch to a cheaper prepayment tariff.
A quick price comparison will show you the suppliers that could save you money.
Will my gas and electric go up on a fixed rate?
If you're on a fixed tariff, your energy prices shouldn't go up while you're in contract. The unit price should stay the same – though the bill you receive will depend on how much energy you use.
How does MoneySuperMarket make money?
We make our money by saving you money. Our comparison service is, and will always be, free to use.
We get paid by the companies we work with, but the payment we get doesn’t have any bearing on the information we provide. We get paid in different ways, depending on the type of product or service you buy through us. Our goal is to search deals from as wide a range of companies as possible, but we only show results from our partner providers.
Why should I use a price comparison website?
One of the best ways to get the lowest prices and best deals is to compare quotes from different companies. We do the work for you, comparing quotes side-by-side and giving you all the information you need so you can choose the right deal for your needs and your wallet.
We don’t give recommendations or financial advice, but we give you clear information so you can choose financial products that suit your circumstances.
Does MoneySuperMarket work with all the providers on the market?
No, not every company can be included in our service. This is because some companies don’t want their products included on comparison sites, and some decide that they would rather not pay a fee. There are also a few smaller providers who can struggle to cope with the volume of customers that can find their products if they appear on MoneySuperMarket.
Our goal is to search deals from as wide a range of companies as possible so that you can choose the deal that suits you.
Reviewed on 28 May 2026 by
10% of customers that switched using Moneysupermarket saved £791. Mar 2026, Exc NI, CI, IOM
Selected providers. SuperSaveClub restrictions and T&Cs apply. Click here for details.
YouGov Survey 1st July 2024 to 30th June 2025. Net Recommend score derived from “Which of the following online service websites would you recommend to a friend or colleague, or tell them to avoid?” Base: Current Customers of (MoneySuperMarket n=18,382, Compare the Market n=16,802, Go.Compare n=10,162, Confused.com n=8,229, Uswitch n=528).
Between 1 April and 30 June 2026. Your actual bill depends on your energy use. | Find out more
The energy price cap is the most that a typical household paying by direct debit can pay on a standard variable energy tariff | Find out more
