Fixed-rate energy tariffs, also known as fixed-price or capped tariffs, are designed to protect homeowners from increasing energy prices.
How do they work?
They work by guaranteeing that the price you pay per unit of energy will remain fixed at an amount agreed between the customer and supplier for a set amount of time.
This means that even if gas and electricity prices across the rest of the market rise over the next two or three years.
The typical time that a fixed-rate tariff lasts – you will have peace of mind knowing that this wont affect the amount you pay each month or quarter.
Knowing how much your energy will cost for the next few years will also make budgeting a lot easier.