Fix, or stay on the price cap?

A fix locks your unit rates and standing charge for a set time. Whether that beats the cap depends on what prices do next, which nobody knows. Here’s how to weigh it.

Where things stand

In August 2026 Ofgem said fixed deals were available at £100 or more below the October 2026 cap.Source: Ofgem
Around 35% of households, about 11 million, are on fixed tariffs, so the October rise didn’t affect them.Source: Ofgem

When a fix pays off

A fix might be cheaper over a year than the cap if prices stay the same or rise. If prices fall, you might save by staying on the cap.Source: Citizens Advice On a fix, your supplier can’t raise the unit price or daily charge unless the government raises VATSource: Citizens Advice, though your bill still moves with how much you use.

To compare a fix fairly:

Find your own usage in kWh on a recent bill or in your supplier’s app.
Compare the fix’s unit rates and standing charges with the cap rates for your region and payment method.
Check the exit fee and how long the fix runs. The best deal may be with your current supplier.Source: Ofgem

Exit fees and the end of a fix

With 49 days or less left on a fix, you can switch without an exit fee.Source: Citizens Advice With 50 days or more left you might have to pay one, but you may still save after paying it.Source: Citizens Advice
When a fix ends, you’re usually moved onto your supplier’s standard variable tariff, under the cap.Source: Citizens Advice

How switching works

A switch must be done within 5 working days. If it isn’t, the new supplier must pay you £40 automatically.Source: Ofgem
You can cancel a switch within 14 days if you change your mind.Source: Ofgem
On prepayment, you can switch while owing up to £500.Source: Ofgem

We don’t compare tariffs or earn anything if you switch. The cap rates for your area are on the price cap page.