Cheapest fixed energy tariff in the UK after the Ofgem cap
A practical UK guide to finding the cheapest fixed deal for your home (not a one-size-fits-all headline). We explain what “cheap” really means after the price cap, what to check, and how to compare safely.
- See when a fixed tariff can beat the capped variable price (and when it won’t)
- Understand unit rates, standing charges, exit fees, and regional pricing
- Compare across the market and get a tailored quote in minutes
Prices vary by region, meter type and payment method. “Cheapest” is always based on your estimated annual cost (unit rates + standing charges) and tariff terms.
Fast answer: what’s the cheapest fixed tariff after the Ofgem cap?
There isn’t one permanent “cheapest fixed tariff” for the whole UK, because fixed prices vary by region, meter type (single-rate vs Economy 7), payment method, and your supplier’s eligibility rules. After an Ofgem price cap change, the cheapest fixed deal for you is usually the tariff with the lowest estimated annual cost for your usage (unit rates + standing charges) and sensible terms (exit fees, length, payment method).
Important: The Ofgem cap limits the unit rates and standing charges for most standard variable tariffs (SVTs), not your total bill. A fixed tariff can be cheaper or more expensive than the cap depending on the rates, your usage and your region.
Key takeaways (UK-specific)
- Check both unit rate (p/kWh) and standing charge (p/day). A low unit rate can be offset by a high standing charge.
- Regional pricing matters. The same tariff name can cost different amounts across distribution regions.
- Meter type can decide the winner. Economy 7 / multi-rate tariffs can be cheaper for some, costly for others.
- Exit fees and fix length change the “real” cost. If you may move home or switch soon, a fee can wipe out savings.
- Direct Debit is usually cheapest versus cash/cheque or some prepayment offers, but eligibility varies.
Compare fixed tariffs for your home (whole-of-market)
The cheapest fixed tariff is the one that’s cheapest for your postcode and usage. Use the form to compare. We’ll show estimated annual costs and key terms so you can make a confident choice.
What you’ll need
- Postcode (for regional rates)
- Rough usage (kWh) or bill estimate
- Payment method preference (e.g., Direct Debit)
What we’ll show
- Estimated annual cost (personalised)
- Unit rates + standing charges
- Fix length, exit fees, key conditions
Tip: If you’re currently on an SVT (capped variable tariff), use your latest bill or smart meter app to estimate usage. Comparing with inaccurate usage can make a fixed deal look cheaper than it really is.
Get your fixed tariff quote
How to choose the cheapest fixed deal (after a price cap change)
1) Start with the right baseline
Compare the fixed tariff’s estimated annual cost against your current SVT (often capped). Don’t rely on “% cheaper than the cap” claims without checking your own region and usage.
2) Check standing charges carefully
A tariff can look cheap on the unit rate but be expensive overall if the standing charge is high—especially for low users or small flats.
3) Look at fix length vs flexibility
Long fixes can offer stability, but may have higher exit fees. If you might move or want to switch again soon, a shorter fix can be safer.
4) Confirm meter compatibility
Economy 7 and smart meters can have different rate structures. Make sure the tariff is available for your meter type and that day/night splits suit your usage pattern.
Fixed vs capped variable: what to compare (quick table)
Use this as your decision framework. The “cheapest” option is the one with the lowest estimated annual cost and acceptable conditions for your situation.
| What you’re comparing | Fixed tariff (typical) | Standard variable tariff (SVT, usually capped) | Why it matters |
|---|---|---|---|
| Unit rate (p/kWh) | Locked for the fix period (unless terms allow changes) | Can change; constrained by Ofgem cap level | Main driver of costs for higher usage homes. |
| Standing charge (p/day) | Often fixed for the period | Can change; constrained by cap | Big factor for low users, single occupants, empty properties. |
| Exit fees | Common (especially 12–24 month fixes) | Usually none | Can remove the benefit if you leave early. |
| Price certainty | Higher | Lower | Useful for budgeting, especially in winter. |
| Eligibility (payment, meter) | Can be restricted (e.g., Direct Debit only) | Usually broadly available | A “cheap” fix is irrelevant if you can’t take it. |
Decision checklist: a fixed tariff may suit you if…
- You want predictable unit rates for budgeting.
- Your quote shows a clear lower estimated annual cost than your current SVT.
- You’re happy with the fix length and any exit fee.
- You can meet the payment/meter requirements (often Direct Debit).
A fixed tariff may not suit you if…
- You may move soon and the exit fee could apply.
- You’re on a prepayment meter and the fix isn’t available (or isn’t competitive).
- Your usage is uncertain (e.g., renovation, new baby, home working changes) and you’d rather stay flexible.
- The fixed tariff’s standing charge is high and you’re a low user.
Two realistic scenarios (worked examples)
These examples show how the maths works. They are illustrative only: rates vary by region and tariff, and totals depend on actual usage.
Scenario A: low-to-medium use flat (single rate)
- Assumed annual use
- Electric 1,800 kWh, Gas 7,000 kWh
- Example SVT (capped) rates
- Elec 24p/kWh + 60p/day, Gas 6p/kWh + 32p/day
- Example fixed rates
- Elec 23p/kWh + 65p/day, Gas 5.8p/kWh + 35p/day, exit fee £100/fuel
- Estimated annual cost (SVT)
- Elec: (1,800×£0.24)+ (365×£0.60)= £432 + £219 = £651
Gas: (7,000×£0.06)+ (365×£0.32)= £420 + £117 = £537
Total: £1,188 - Estimated annual cost (fixed)
- Elec: (1,800×£0.23)+ (365×£0.65)= £414 + £237 = £651
Gas: (7,000×£0.058)+ (365×£0.35)= £406 + £128 = £534
Total: £1,185 (near-identical; exit fee risk may not be worth it)
Scenario B: higher use family home (single rate)
- Assumed annual use
- Electric 4,200 kWh, Gas 14,000 kWh
- Example SVT (capped) rates
- Elec 24p/kWh + 60p/day, Gas 6p/kWh + 32p/day
- Example fixed rates
- Elec 22.5p/kWh + 55p/day, Gas 5.6p/kWh + 30p/day, exit fee £75/fuel
- Estimated annual cost (SVT)
- Elec: (4,200×£0.24)+ (365×£0.60)= £1,008 + £219 = £1,227
Gas: (14,000×£0.06)+ (365×£0.32)= £840 + £117 = £957
Total: £2,184 - Estimated annual cost (fixed)
- Elec: (4,200×£0.225)+ (365×£0.55)= £945 + £201 = £1,146
Gas: (14,000×£0.056)+ (365×£0.30)= £784 + £110 = £894
Total: £2,040 (estimated £144/year lower; check exit fees and length)
Notes: Examples exclude any supplier credits/discounts and assume rates stay constant within each tariff type. Your SVT rates can change over time; fixed rates typically don’t (within the fix period), but always read tariff terms.
Costs, exclusions and common pitfalls (what can stop a “cheap” fix being cheap)
Exit fees
Many fixed tariffs charge a fee if you switch before the end date. If you’re likely to move or switch again, factor that into the “real” cost.
Direct Debit vs other payment methods
Quotes can be cheaper on monthly Direct Debit. If you prefer receipt-of-bill or prepayment, compare like-for-like.
Economy 7 / multi-rate traps
Night rates can be attractive, but day rates may be higher. If you don’t shift enough usage off-peak, costs can rise.
Standing charge differences by region
Even with the same supplier and tariff name, standing charges vary. Always check the rates for your postcode.
New customer vs existing customer deals
Some fixed deals are only available to new customers, or may require online account management. Eligibility can change quickly.
“Cheapest” headlines without context
A tariff can be cheapest for one region/usage profile but not yours. Personalised comparison is the safest way to choose.
Switching timing: If you switch, there’s usually a short period while the transfer completes. Your old supplier will bill you up to the switch date. Take meter readings (or ensure your smart readings are up to date) to reduce the risk of estimated final bills.
FAQs: cheapest fixed energy tariffs (UK)
Is the Ofgem price cap the maximum I can pay?
No. The cap limits the rates suppliers can charge on most SVTs (unit rates and standing charges). Your total bill still depends on how much energy you use.
Are fixed tariffs covered by the price cap?
Fixed tariffs are generally not limited by the SVT cap in the same way, because you’ve agreed a specific fixed price. That’s why some fixed deals can be higher or lower than capped SVT rates.
What’s the difference between unit rate and standing charge?
The unit rate is what you pay per kWh used. The standing charge is a daily fixed cost for being connected. Cheapest tariffs are often those with a good balance for your usage level.
Do I need to wait until the price cap changes before fixing?
Not necessarily. What matters is whether the fixed tariff is competitive for your region and usage today, and whether you value price certainty. If a better deal appears later, an exit fee could matter.
Can I get a fixed tariff with a prepayment meter?
Sometimes, but choice can be more limited and pricing differs. If you’re considering switching to Direct Debit, check eligibility and whether you’ll need a credit check or meter change (terms vary by supplier).
Will I lose my smart meter features if I switch?
Most smart meters should keep working, but interoperability can vary. If your in-home display stops updating straight away, it may reconnect later—your supplier can advise based on your meter type.
How long does it take to switch energy supplier in the UK?
Switching times can vary. In many cases it’s a few working days, but it can take longer if there are meter or account issues. You’ll still have supply throughout—only the billing changes.
What if I’m renting—can I choose a fixed tariff?
Usually yes, if you pay the energy bills and your name is on the account. If bills are included in rent or the landlord manages the supply, you may not be able to switch.
What information should I check before committing to a fix?
Confirm: fix end date, exit fees (per fuel), unit rates and standing charges for your region, payment method rules, and any requirements (online billing, smart meter, etc.).
Trust, methodology and sources
Page ownership
- Written by: EnergyPlus Editorial Team
- Reviewed by: Energy Specialist
- Last updated: June 2026
How we assess “cheapest fixed tariff” (transparent approach)
We treat “cheapest” as the lowest estimated annual cost for a specific household, based on the tariff’s published unit rates and standing charges for the relevant region and meter type.
- Personalised inputs: postcode (to identify the electricity/gas region), meter type where known, and estimated consumption (kWh) or bill-based estimate.
- Cost calculation: (annual kWh × unit rate) + (365 × standing charge) for electricity and gas, summed across fuels for dual fuel comparisons.
- Terms check: we highlight fix length, exit fees, payment method requirements, and common eligibility limits that affect real-world value.
Limitations: Tariffs can change quickly and may be withdrawn. Estimated costs won’t match your exact bills if your usage differs, if prices change on SVTs, or if there are one-off credits/adjustments. Always read the supplier’s tariff information before switching.
Independent sources we use (UK)
- Ofgem: Energy price cap (how the cap works and what it applies to)
- Citizens Advice: Energy supply advice (switching, billing, complaints)
- GOV.UK: Switch energy supplier (process overview and practical guidance)
Ready to check the cheapest fixed tariff for your postcode?
Compare whole-of-market options with clear rates and key terms. Get an estimated annual cost and switch when you’re confident.
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