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|
|Clear Fixed Price Feb 2020 v1||£1,018||29/02/2020|
|First Fixed March 2020||£1,055||31/03/2020|
|Co-op Price Protect July 2020||£1,098||31/07/2020|
|GB Price Protect July 2020||£1,098||31/07/2020|
|Fix 2020 Paperless Billing||£1,127||36 months from signup|
|Super Fix March 2021||£1,130||31/03/2021|
|Fix 2020||£1,139||36 months from signup|
|Blue+Heating Protect Apr20||£1,154||30/04/2020|
*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.