Fixed versus variable energy tariffs in the UK
Last updated: 22 October 2026
A variable tariff moves with the Ofgem price cap each quarter; a fixed tariff locks your unit rate and standing charge for the term. Whether fixing saves money depends on your region, your usage and the exit fee — so compare the actual rates, not the marketing.
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Fixed electricity tariffs against the price cap
Each row is one product priced across Great Britain's electricity regions, so rates show as a range (checked 22 October 2026). These are supplier fixed tariffs — a personalised quote and eligibility check are still required.
| Supplier | Fixed product | Fuel | Term | Unit rate by region | Daily standing charge | Exit fee |
|---|---|---|---|---|---|---|
| Co-op Energy | Co-op 18M Fixed October 2026 | Electricity | 18 months | 26.87p–29.68p | 41.39p–67.27p | £75.00 |
| Octopus Energy | Octopus 18M Fixed October 2026 | Electricity | 18 months | 26.87p–29.68p | 41.39p–67.27p | £75.00 |
| Co-op Energy | Co-op 12M Fixed October 2026 | Electricity | 12 months | 29.33p–32.33p | 46.30p–67.27p | £50.00 |
| Octopus Energy | Octopus 12M Fixed October 2026 | Electricity | 12 months | 29.33p–32.33p | 46.30p–67.27p | £50.00 |
| Co-op Energy | Co-op 6M Winter Fix October 2026 | Electricity | 6 months | 30.01p–31.28p | 41.39p–44.21p | None published |
| Octopus Energy | Octopus 6M Winter Fix October 2026 | Electricity | 6 months | 30.01p–31.28p | 41.39p–44.21p | None published |
Prices are advertised rates from each provider's own page on the date we checked, not live quotes. Clicking a name takes you to the provider.
How a variable tariff works
On a standard variable tariff, your supplier's unit rate and standing charge can move every quarter with the Ofgem price cap, which sets a maximum per unit rather than your total bill. Two households in different regions pay different rates under the same cap.
Variable tariffs normally carry no exit fee, so you can move whenever you like — that flexibility has value if you think prices may fall.
How a fixed tariff works
A fixed tariff locks the unit rate and standing charge for the term, commonly 12 to 24 months. If wholesale prices rise you are protected; if they fall, you keep paying the agreed rate.
Most fixed tariffs charge an exit fee per fuel if you leave early — you can normally switch without it in the final weeks of the fix. Check the fee, the term and whether the tariff ends in a variable rate you would then need to switch again.
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Add the standing charge to the unit rate for your own usage: a tariff with a low unit rate and a high standing charge can cost more for a small household that uses little energy, and less for a large one.
The table above shows each product's range across regions because Great Britain has separate electricity regions with different rates. Enter your postcode with the supplier for the exact rate at your address.
Frequently asked questions
Is a fixed energy tariff cheaper than the price cap?
Not always. Some fixed tariffs sit above the current cap in exchange for certainty. Compare the unit rate and standing charge for your region against the cap before you decide.
What happens when a fixed tariff ends?
You are usually moved onto the supplier's variable tariff, which may be more expensive. Note the end date and shop around before it arrives.
Can I leave a fixed tariff without paying?
Normally not before the exit-fee period ends. Most suppliers let you switch without a fee in the last 49 days of the fix.
Does fixing protect me from bills rising?
It protects the rates, not the total: if you use more energy, your bill still rises. Fixed rates do cover you against wholesale price increases during the term.
Why do energy rates differ by region?
Network costs, metering and local distribution arrangements differ, so Great Britain's electricity regions carry different unit rates and standing charges under the same cap.
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Listings are dated snapshots of providers' own pages, not live prices, and CompareDirect does not sell the products we list. We are not a credit broker or lender and give no financial advice.