To provide yourself with maximum protection against any energy price increases in future years, you may want to consider locking yourself into a long term fixed rate tariff.
At any one time there are usually just a couple of gas and electricity tariffs on the market that allow you to freeze your energy prices for 3 years or longer. The benefits of these tariffs is that you are provided security in knowing that you are protected against price increases for a long time. Should energy prices go up over the course of these three (or more) years, you will still be paying the rates you agreed when you signed up for the tariff. However the downside is that your bills will likely be more expensive in the short term.
|Supplier||Tariff||Average annual bill*||Tariff end date|
|ENGIE Control Paperless Billing||£1,000||36 months from signup|
|ENGIE Control Paper Billing||£1,032||36 months from signup|
|Clear Fixed Price Oct 2020 v1||£1,041||31/10/2020|
|BIue+Heating Protect Jan20||£1,058||31/01/2021|
|First Fixed September 2020||£1,094||30/09/2020|
|Super Fix March 2021 v2||£1,096||31/03/2021|
|GB Price Protect Sept 20||£1,097||30/09/2020|
|Co-op Price Protect Sept 20||£1,097||30/09/2020|
|Fix 2020 Paperless Billing||£1,127||36 months from signup|
|Fix 2020||£1,139||36 months from signup|
*Based on usage of 3,100kWh of electric per year and 12,500kWh of gas per year. Shows average price across all regions. Assumes payment is made by Monthly Direct Debit. Only showing tariffs which are generally available across most of the UK.