DEALS & SAVINGS · OFGEM
Ofgem's advice is to compare a fixed tariff's total annual cost with your expected variable tariff cost. Price-cap rates are regional and usage-based; do not switch for a headline unit rate alone.
The price cap limits unit rates and standing charges for default tariffs, not the total bill. A household using more energy still pays more. Rates vary by region, payment method and meter type.
Use your actual annual electricity and gas consumption from recent bills, then compare the whole-year cost of a fixed offer against your current tariff. Include standing charges and any exit fee.
A fixed deal may protect against future increases but can cost more if default rates fall. Check whether the offered tariff has exit fees and how long the price is fixed.
Ofgem's consumer guidance is the useful starting point; a supplier's quote is the final price. Avoid switching based on a national average if your home usage differs.