Types of Energy Tariffs
Fixed Tariff
Your standing charge and unit rate will not change
Your bills will be predictable
Cheaper deals are often available
Your bills will not be impacted by energy market price fluctuations
If you find a tariff you like, you can usually fix your rates for up to 5 years
protected from any price rises.
You should also make a note of if the price of energy falls you won’t benefit from a cut in your unit rate costs.
failing to switch suppliers or negotiate a new deal could cause you to be placed on a standard variable tariff with more expensive rates.
Who is a fixed rate tariff best suited to?
Fixed-rate tariffs are best suited to households and businesses that have a reasonably consistent rate of energy use and where it is preferred to have a set payment each month As these tariffs are fixed for a certain period,
Variable Tariff
a variable rate tariff unit rate can rise and fall throughout your contract
You could benefit from lower rates from switching
No exit fees
The unit rate you pay will be dependent on the energy markets. This means that if the price of energy falls, you will also benefit from a reduction in your unit rate. However, any increases in the price of energy will also see your energy bills increase.
Variable tariffs often require 30 days’ notice if you want to end the tariff and get a new deal.
Dual Fuel Tariff
A dual fuel tariff simply allows you to switch both your gas and electricity to the same supplier. This can make managing your energy bills easier as you don’t have to deal with two separate accounts
Dual fuel discounts - Some suppliers will offer a discount to customers switching to a dual fuel tariff
When comparing energy prices for this type of tariff, you should look out for suppliers that offer dual fuel discounts.
Prepayment Tariff
prepayment energy tariff will operate on a ‘pay as you go’ system
You will top up your prepayment meter using tokens, keys or smartcard suppliers have introduced top-ups online via a website or app.
You can control how much you spend on energy
Prepayment tariffs are often a more expensive and will require more monitoring to ensure you remain in credit.
Prepayment meter tariffs have more control over what they spend on their energy
Economy 7
An Economy 7 energy tariff offers a lower unit rate for electricity seven hours each night
The exact off-peak times will vary depending on your supplier but might be 11 pm to 6 am or 12 midnight to 7 am.
Economy 10 Tariff
an Economy 10 tariff offers a lower unit rate for 10 hours over a day.
These off-peak hours are often split into three blocks in the afternoon, evening and overnight.
make the most of cheaper energy rates at certain times of the day.
Green Energy Tariffs
Can help to reduce your carbon footprint
Provides a way for you to do your bit for the environment
