- A fixed tariff is a “fixed rate, where the price you pay is set for a period of time”. A standard variable tariff can go up or down, and is protected by the price cap.1
- Fixed tariffs are not covered by the price cap, so compare the unit rates and standing charges with the cap rates for your region.6
- Citizens Advice: “If you have 49 days or less left on a fixed tariff, you can switch for free.”3
- Last checked: 28 October 2026.
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How to compare fairly
Compare the unit rate and the daily standing charge for each fuel, not just the monthly payment. Citizens Advice: “A fixed tariff charges you the same rate for your gas or electricity and your standing charge, until your contract ends.”3
Work out a year's cost using your own usage from your bills: kWh used times the unit rate, plus 365 times the standing charge.
Exit fees and switching rights
Ofgem: “You may have to pay your previous supplier an ‘exit fee’ if you were on a fixed rate tariff and chose to leave before it ended.”2
“If you change your mind, you can cancel your switch within 14 days.” A switch must complete “within 5 working days. If they do not, your new supplier must pay you £40.”2
The electricity VAT cut and fixed tariffs
GOV.UK: “That includes fixed energy tariffs where you have already locked in your rate.”4
HMRC: “The temporary zero rate applies from 1 October 2026 to 30 June 2027.” The Budget on 28 October 2026 extended it from 31 March (announced; the legislation is due in early 2027). Gas stays at 5% VAT.5
Northern Ireland
The Utility Regulator says you can use the Consumer Council's energy price comparison tool to compare deals.7