Cheapest fixed energy deal after the July price cap

Key takeaways

• Compare on annual cost (not just unit rate). Standing charges can change the outcome.
• Fixes are about certainty: you trade flexibility for price stability (often with exit fees).
• Check eligibility: some tariffs are for smart meters, online billing, or direct debit only.
• Timing matters less than fit: the best choice depends on how long you’ll stay and your risk tolerance.

When a fixed deal can beat the cap

• The supplier prices the fix below your SVT estimate for your region and usage.
• You’ll stay long enough that any exit fees don’t wipe out the benefit.
• The tariff suits your meter (e.g., Economy 7 rates match your night/day usage).

Quick check before you switch

• Are you in a fixed contract now (and would you pay a fee to leave)?
• Do you have a prepayment meter (fewer fixes available)?
• Is your property likely to move/move tenant within 6–12 months?

Compare fixed tariffs built around your home (not averages)

After the July price cap update, suppliers may release new fixed deals or withdraw older ones. The cheapest option can change quickly, so it’s best to compare based on your exact details.

Two realistic examples (with assumptions)

What counts as a “fixed deal” (and what it doesn’t)

• Fixed tariff: unit rates and standing charges are set for a period (e.g., 12 or 24 months), usually with exit fees.
• SVT (price-capped): the default tariff for many households; rates can change when the cap changes (typically quarterly), and usually no exit fees.
• Tracker tariff: price moves with a published benchmark; can be cheaper or more expensive month-to-month. Not a fix.

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Decision checklist: a fix is likely to suit you if…

• You prefer price certainty for budgeting.
• The fixed quote is lower than your SVT estimate for your usage.
• You expect to stay put for 12+ months (or the term you choose).
• You can meet the tariff conditions (e.g., direct debit, online billing).

A fix may not suit you if…

• You may move home soon, or you like switching frequently.
• The fix is only “cheap” because of a short-term perk (e.g., credit) but has higher ongoing costs.
• You’re on prepayment and the fix options are limited or less competitive.
• You’re unsure about Economy 7 usage split and could be better on single-rate.

If you’re renting

You can usually choose your supplier if you pay the energy bills directly (even if your landlord chose the meter). If bills are included in rent, you typically can’t switch.

If you’re likely to leave at the end of the tenancy, prioritise low/no exit fees or consider SVT for flexibility.

1) Exit fees can flip the maths

Many fixed tariffs charge exit fees (often per fuel). If you might re-fix after another cap change, or move, build the fee into your decision. A “£60/year cheaper” fix can become more expensive if you pay £100–£200 to leave early.

2) Standing charges matter more for low users

If you use less energy (small flat, away from home, efficient heating), a higher standing charge can outweigh a lower unit rate. Always compare on estimated annual cost using your usage.

3) Economy 7: the split is everything

Economy 7 works best if a meaningful share of your electricity use is overnight (storage heaters, hot water). A fixed E7 deal can look cheap on the headline night rate but cost more if your day use is high.

4) Direct debit vs prepayment vs pay-on-receipt

Some of the lowest fixed deals are direct-debit only. If you’re on prepayment, you may see fewer options. If you prefer paying on receipt of bill, check the tariff allows it and whether charges differ.

5) “Intro credits” and bundled perks

Bill credits, vouchers or reward schemes can be useful, but compare the underlying rates too. If the ongoing cost is higher, a one-off perk may not make the tariff cheapest over the term.

6) Switching timelines and cooling-off

Switching typically takes a short period, and you generally have a cooling-off window for distance sales. Your supply shouldn’t be interrupted. If you’re in debt, extra checks may apply.

Does the Ofgem price cap mean my bill is capped?

No. The cap limits unit rates and standing charges on SVTs (and some default tariffs), not your total bill. Your bill depends on how much energy you use.

Why do “cheapest fixed deals” differ by postcode?

Network costs vary by region and are built into electricity and gas pricing. Suppliers also price risk differently across regions and meter setups, so the same tariff name can cost more or less depending on your postcode.

If I fix now, can my prices still change?

On a genuine fixed tariff, the unit rates and standing charges are usually fixed for the term. However, always read the tariff terms. Some elements (like how you repay debt or certain fees) may be separate from the fixed rates.

Are fixed deals available for prepayment meters?

Sometimes, but the range can be smaller and pricing may differ. If you’re on prepayment, it’s still worth comparing—just expect fewer fixed options and check whether your meter needs to be upgraded or exchanged.

Will switching affect my smart meter?

In most cases, smart meters continue to work when you switch, but functionality can vary depending on the meter type and supplier systems. If a tariff requires a smart meter, confirm compatibility before you apply.

What if I’m in credit or debit with my current supplier?

If you’re in credit, your old supplier should refund it after your final bill. If you’re in debt, you may still be able to switch, but it can be more complex—especially with prepayment or debt repayment plans.

Is a longer fixed deal (24 months+) always better value?

Not always. A longer fix can provide stability, but if market prices fall you may be paying above newer deals and face exit fees to leave. Compare the premium you’re paying for certainty.

Do I need my annual kWh usage to compare?

It helps, but it’s not essential. You can estimate using recent bills or typical usage. The more accurate your usage, the more accurate your “cheapest” result will be—especially if you have Economy 7 or electric heating.

Page ownership

Written by

EnergyPlus Editorial Team

Reviewed by

Energy Specialist

Last updated

April 2026

How we assess “cheapest fixed deal after July”

We treat “cheapest” as lowest estimated annual cost for an eligible UK household, compared like-for-like against the household’s SVT estimate under the relevant Ofgem price cap period.

• Like-for-like basis: same postcode region, payment method, meter type, and fuel(s).
• Primary comparison metric: estimated annual cost using the user’s provided or typical usage (kWh).
• We include: unit rates, standing charges, tariff length, and any stated exit fees.
• We do not assume: future cap movements, discretionary goodwill credits, or personal eligibility for non-tariff support schemes.