What is the difference between fixed and variable energy tariffs?
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In short: Fixed tariffs lock unit rates for the contract term; variable tariffs track the Ofgem cap quarterly. Fixes may beat the cap when prices are expected to rise.
Content updated:
Exit fees often apply if you leave a fix early — check before switching.
In the last 49 days before a fix ends you can switch without exit penalty.
Variable tariffs have no exit fees but payments change each cap reset.
See should I fix my energy tariff answer and compare energy guide.
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