Mounted-priced offers supply certainty for a set interval – usually a yr, or longer – but when costs drop, you could possibly be caught at the next value.
Ofgem says prospects who need the safety of a set value ought to contemplate fastened offers.
Nevertheless, it recommends getting unbiased recommendation.
The value comparability website Uswitch says it is very important verify whether or not fastened offers have exit charges earlier than signing up and to be sure to totally perceive the phrases of the contract.
As a result of the worth cap modifications each three months, it’s troublesome to know with any certainty whether or not a hard and fast tariff is an efficient deal. The longer the fastened time period, the better the uncertainty.