Fixed price energy (utility)
Fixed price energy tariffs (fixed utility costs) have allowed UK consumer to fix their energy prices (Gas & Electricity prices) to defend price rises. If you want to safe guard yourself against the energy price rises, than a fixed price energy tariff would be the peace of mind you are looking for.
However, is a fixed rate tariff right option for you? Is it the cheapest energy tariff? Will it save you money on your gas and electricity bills? What happens at the end of your fixed price energy contract? Find out more information through the FreePriceCompare.com guides.
What is a fixed price energy tariff (fixed rate utility tariff)?
A fixed price energy tariff (Fixed price gas and electricity tariffs) offers you the guarantee that the price of your energy bills will not go up.
Depending on the energy tariff, your energy price could be fixed from one to four years.
The fixed rate energy contract sometimes includes a fixed rated for your standing charge. When you decide to go for fixed rate energy tariff its worth making sure that the standing charge has been included in the fixed price contract, as this could increase your energy bills.
Fixed price energy contracts can also be more expensive than the available cheapest online energy tariffs (online gas tariffs / online electricity tariffs / online dual fuel tariffs). Moreover they come with high cancellation fees if you switch your energy tariff before your current energy contract is due to end.
As you can understand, switching to a fixed price gas and electricity tariff can put your bills at high risk. If energy prices do go up than you will make big savings, but if they don’t or go down, you could end up paying more than expected.
What should I do when my fixed energy price contract comes to an end?
When your fixed energy plan is coming to an end, the first thing you need to do is find out (via renewal letter) which tariff they are willing to put you on. They may offer you “standard price tariffs” or a chance to fix your price again.
Be aware, that Standard energy tariffs are one of the most expensive plans in the whole market. And the renewal fixed price plan offered by your current energy supplier can be more expensive than the available fixed price plans in the domestic energy market.
So, once you know what energy price plans you been offered by your current supplier:
Compare all online energy price plans and find out which one is the best option for you.
Once you know you are saving money by switching your energy supplier, it’s time to secure you future energy prices – Switch your gas and electricity supplier.
Where can I find fixed price energy tariffs on the freepricecompare.com?
We have designed a special comparison tool which is really easy to use and lets you compare fixed price plans in the entire market.
Alternatively, you can compare the energy tariffs by calling our experienced London based team. They will always be happy to help you find the best deals and answer any questions. You can call the team on 0203 4757 476.