These tariffs lock in the price per unit of energy for a set period, typically 12 to 24 months. This means your energy rate won’t fluctuate with market changes, offering you stability in your energy costs.

Benefits of a fixed rate energy tariff

Your payments will not change (depending on your usage) Your bills will be predictable Your bills will not be impacted by energy market price fluctuations If you find a tariff you like, you can usually fix your rates for up to 3 years

Considerations

You should bear in mind that although your unit rate is fixed, this doesn’t mean your bills will remain the same each month. The monthly cost of your energy bills will still be dependent on how much gas and electricity you use.

As the rate you pay per unit of gas and electricity is locked for the length of your contract, you will be protected from any price rises. However, if the price of energy falls you won’t benefit from a cut in your unit rate costs.

As the energy market opens up, more suppliers are offering fixed rate energy tariffs below the cost of the price cap.

Who is a fixed rate tariff best suited to?

Fixed-rate tariffs are best suited to households that have a reasonably consistent rate of energy use and where it is preferred to have a set payment each month. As these tariffs are fixed for a certain period, you should ensure that you are comfortable with entering a contract for the set term.

The rates for these tariffs can fluctuate based on market conditions, meaning that while you might save money when energy prices drop, you also risk paying more when they rise. This tariff is ideal for those who can manage the uncertainty and are willing to monitor market trends closely.

Benefits of a variable rate energy tariff:

Flexibility to switch plans or providers without exit fees.
Possible savings when energy market prices drop.
No long-term commitment, offering monthly adaptability.

Considerations:

Your energy costs will fluctuate with market prices, which can increase without warning.
Requires regular market monitoring to ensure you’re getting a good deal.

Best suited to:
Those who prefer flexibility and are vigilant about monitoring market rates.
Users willing to switch often to capitalize on falling market prices.

Dual fuel tariffs offer the convenience of getting both your gas and electricity from the same supplier, often at a discounted rate compared to purchasing each separately. This can simplify billing and potentially save money.

Benefits of dual fuel energy tariffs:

Convenience of managing both gas and electricity with a single provider. Often discounts are available when bundling services.
Streamlined customer service experience.

Considerations:

May not always be the cheapest option, as separate gas and electricity deals can sometimes save more.
Less flexibility in choosing different providers for gas and electricity.

Best suited to:

Those seeking the convenience of a single supplier for both services.
Households looking for straightforward billing and account management.

With these tariffs, you pay for your energy upfront via a credit meter. They allow you to manage your energy consumption closely but can sometimes come with higher rates per unit and the inconvenience of needing to maintain the meter's credit.

Benefits of prepayment energy tariffs:

Control over your energy spending by paying upfront.
No surprise bills as you only use what you’ve paid for.
Often no credit checks required.

Considerations:

Typically more expensive per unit of energy than credit meters.
Need to actively ensure the meter is topped up to avoid disconnection.

Best suited to:

Customers who want to manage their budget tightly.
Users without access to standard credit metering.

These are time-of-use tariffs that offer a lower rate for electricity used during off-peak hours at night, which is beneficial if you can shift significant energy use to these times. They require a specific meter that can differentiate peak and off-peak usage.

Benefits of Economy 7 and Economy 10 tariffs:

Cheaper rates during off-peak hours for electricity usage.
Ideal for those who can shift their energy-intensive activities to night-time or the specified off-peak hours.

Considerations:

Higher rates during the day can offset night-time savings if daytime usage is high.
Requires a special meter that can track day and night usage separately.

Best suited to:

Households with storage heaters or those who can schedule large appliances (like washing machines) to run at night.

Green tariffs are designed to support renewable energy. The energy supplied under these tariffs is sourced from renewable energy generation like wind or solar power. They are ideal for those looking to reduce their carbon footprint and support the transition to a cleaner energy system.

Benefits of green energy tariffs:

Supports renewable energy production.
Helps reduce your carbon footprint.
May come with additional perks or incentives for environmentally conscious practices.

Considerations:

Sometimes can be more expensive than non-green tariffs.
Not all green tariffs directly contribute to the generation of renewable energy; some may include carbon offsetting instead.

Best suited to:

Those committed to environmental sustainability.
Customers looking to support the growth of renewable energy.

These tariffs do not include a daily standing charge, meaning you only pay for the energy you use. This might be cost-effective for properties that are not used regularly. However, the unit cost for energy is typically higher than tariffs with a standing charge.

Benefits of no standing charge tariffs:

Only pay for the energy you use, with no daily fixed charge.
Can save money for those with very low energy usage or vacant properties.

Considerations:

Higher per-unit costs compared to tariffs with standing charges.
Not cost-effective for average or high energy users due to the higher unit rate.

Best suited to:

Those with intermittent energy needs, such as landlords between tenants.
Low energy users, such as those with secondary homes or infrequently used properties.