Switchomatic UK energy news

Benefits of switching gas and electricity suppliers

Is it best to fix energy prices?

Fixed energy prices, also known as fixed rate plans or fixed rate tariffs, can protect households from increased prices in utilities bills - namely gas and electricity.

The tariffs usually last about a year and can give customers peace of mind when energy prices are on the rise. 

But there is a continuous a war on energy prices and utility companies release new tariffs daily, to entice customers in. So fixed energy prices are not always a money saving exercise. 

Is it best to fix energy prices?

Usually the best deals available are variable rate products, where the price can change. Unfortunately, these will not shield you from price hikes if costs do start to rise.

That's making fixed rate tariffs an attractive option for many people, even though they tend to be more expensive.

Fixing the price of gas and electricity can be a good way to protect your home from any further price hikes, especially in the run up to winter.

However those who opt out of their providers' standard tariff could save around £300 per year, by switching utility tariff.

What if you have a fixed energy deal that finishes towards the end of the year? Should you switch now or wait?

The first thing to check is your provider's smallprint, as many will charge you a termination fee if you choose to end your contract early.

Then do a utility price comparison check on an energy switch website like Switchomatic. 

Created: 11th Dec 2010, Last Modified: 7th Dec 2018, Switchomatic

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