How to compare energy tariffs: five checks before you fix

The price cap rose on 1 October 2026. Whether a fixed deal is worth it depends on your usage and your appetite for guessing, not on the headlines. Here are Ofgem's numbers, a simple rule of thumb, the five things to check, and the free help to claim before you think about tariffs at all.

By Tom Calder · Published 22 September 2026 · Updated 9 October 2026 · Sourced to Ofgem

The rule of thumb

We don't give personal financial advice, and nobody knows what the cap will do in January. A simple test is this: a fix is only worth considering if it is priced at or below the cap you are on now, and only if you would be comfortable losing out should prices fall while you are locked in. MoneySavingExpert's fixed-deal guide (updated 8 October 2026) goes further: it compares a fix with what the cap is expected to do over the next year, not just with today's level, and warns that a fix that looks decent now could cost more if prices drop. Those expectations are forecasts until Ofgem announces the real figure, by 25 November 2026.

The number of fixed deals that beat the cap changes day by day as suppliers pull and launch tariffs, which is why different articles quote different counts. What matters is whether one beats it for your usage on the day you look. For scale, MoneySavingExpert's fixed-deal guide, correct as of 8 October 2026, lists two standalone fixes below the October cap (about 3 per cent and 1.2 per cent below, for typical use paid by Direct Debit, both with exit fees); it gives no count for the whole market.

Five things to check before you switch

1. 1

   Compare unit rates, not the headline

   The cap limits the price of each unit and the daily standing charge, not your bill. A fixed deal is compared the same way: its unit rates and standing charges against the cap's, for your fuel and your payment method.

2. 2

   Price it against the cap you are on, not the forecast

   A fix priced below today's cap is a real saving today. Whether it beats January depends on a forecast, and forecasts differ widely. Ofgem announces the real January cap by 25 November 2026.

3. 3

   Check the exit fee

   Most fixes charge a fee per fuel to leave early. If prices fall and you want out, that fee is the cost of having guessed wrong. Some fixes have none; that flexibility is worth something.

4. 4

   Look at the standing charge separately

   A tariff with a low unit rate and a high standing charge suits a high-use household and punishes a low-use one. If you use little energy, the standing charge is most of your bill.

5. 5

   Take a meter reading when you switch

   Unless you have a working smart meter, send a reading on the day the new tariff starts, and photograph it. It stops the old supplier estimating your last weeks at the wrong rate.

Before you fix anything: claim what you are owed

For the households that qualify, the support schemes are worth more than any tariff decision. The Warm Home Discount takes £150 off an electricity bill. The Winter Fuel Payment is £100 to £300 depending on age and household. Cold Weather Payments are £25 for each seven-day freezing spell between November and March, paid automatically to people on qualifying benefits. The Priority Services Register is free and gets you extra help if anyone at home is older, disabled or unwell.

Common questions

Sources: Ofgem, price cap announcement (26 August 2026) · Ofgem, unit rates and standing charges · Cornwall Insight forecast (30 September 2026) · Citizens Advice, switching energy supplier. This is general information, not financial advice. PreparedBritain is independent and not affiliated with HM Government or Ofgem.