Following the news about the October Price Cap rise, our helpline has been flooded with one question: “Should I switch to a fixed tariff?”
Currently, several suppliers are offering fixed deals slightly below the upcoming October cap. If you value certainty and want to avoid potential further rises in January, a fix might be a good option. However, beware of exit fees.
The Pros of Fixing:
- Peace of Mind: You know exactly what your unit rate will be for the next 12 months.
- Budgeting: It makes planning your monthly outgoings much easier.
At Energy Advice Helpline, we recommend looking at your personal finances. If you value certainty over the risk of fluctuating prices, a fix might be right for you.
See how much you could save with solar
Following last week’s confirming news about the October Price Cap rise, our helpline has been flooded with one specific question: “Should I switch to a fixed tariff?”
For the last two years, the standard advice has generally been to stay on the variable tariff (the Price Cap) as it was the cheapest option. However, the market is shifting. Some energy suppliers are now offering fixed deals that are slightly cheaper than the upcoming October cap. This leaves many consumers facing a difficult choice: do you stick or do you twist?
The Case for Fixing If you are a household that needs budget certainty, fixing can offer peace of mind. For example, if you have a fixed monthly income and cannot risk an unexpected price spike in January 2026, locking in a rate now makes sense. You lock in a price for 12 months, protecting yourself from any further volatility in the global gas market. You know exactly what your unit rate will be, regardless of world events.
The Risks Involved However, fixing isn’t without risk. Most fixed tariffs come with exit fees (often £50+ per fuel). If prices drop unexpectedly in January or April 2026, you might be stuck paying a higher rate than the rest of the market. Furthermore, many of the best “fix” deals are currently reserved for existing customers of big suppliers, meaning you might not be able to switch to them easily.
Our Verdict At Energy Advice Helpline, we recommend looking at your personal finances first. If you value certainty over the risk of fluctuating prices, a fix might be right for you. However, before you switch, make sure you aren’t missing out on free energy efficiency improvements. Insulation and solar panels lower your usage regardless of which tariff you are on, providing guaranteed savings. The cheapest energy is always the energy you don’t use.
