Standard vs fixed tariffs
Unless you have requested otherwise, you will be on the variable tariff (usually called Standard) with your energy supplier. This is often the most expensive tariff, and also means you will be affected by any price changes your supplier implements.
Fixed-rate tariffs tend to be cheaper than variable tariffs. A fixed-rate tariff means the price you pay for each kilowatt hour (kWh) unit of gas or electricity you use, and for your daily standing charge, will stay the same for the duration of your contract (which usually lasts for one or two years).
How much you pay each month will still be affected by how much energy you use. If your supplier drops its prices after you’ve started your fixed rate contract you might end up paying more than the variable tariff. However, in recent years the trend has been for energy prices to go up rather than down, although the government has set a price cap. Your energy bill or statement must now show whether there is a cheaper tariff your supplier can offer you.
Considering switching tariffs or energy supplier? Check out our switching provider: Community Energy Switch or Freephone 0800 804 7247
You can use the table below to help you record information from your energy bill that you will need to compare and switch tariffs and work out your projected annual saving from switching tariff.