Why you shouldn’t rush to fix your energy tariff

Fixed-tariff energy deals are becoming more tempting, but not all households can benefit, says Ruth Jackson-Kirby.

Man looking at an energy bill
It could pay to wait before you fix your energy tariff
(Image credit: © Getty Images)

Switching to a better energy deal hasn’t really been an option ever since energy prices began to soar last autumn. The advice has been to remain on your provider’s standard tariff, since it is protected by the price cap set by regulator Ofgem.

However, there are some new fixed-tariff energy deals on the market, while the current level of the cap will go up in October (it’s reset every six months). Earlier this month, Ofgem warned that the new cap could be 42% higher, which would take the average annual energy bill to £2,800. As a result, “fixed deals are starting to look more tempting,” says George Nixon in The Times.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.