Martin also added on X: ‘The cheapest year-long standalone fixes right now are about 4% less than the current cap, never mind once it rises in April, so if you get a good fix now you lock in at a cheaper rate for a year, get price certainty, save instantly and save relatively more once we get to April.’.
The exact fixed rate tariff that’s best for you will depend on your region and how much energy you use, so put your details into a comparison tool (like MSE’s Cheap Energy Club) to see more personalised options.
On the Money Saving Expert (MSE) newsletter, he explained that ‘a fix means the rate you pay for energy can’t change (though use more and you’ll pay more).’.
Amy Knight, personal finance expert at the financial comparison website NerdWallet UK, told Metro: ‘While cutting down on energy use can help save money on bills, this isn’t always an option.
Ofgem just announced the price cap will be going up by 6.4% in April – following a 1% rise in January – with the energy regulator blaming an increase in the wholesale price of oil and gas.
