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19 million UK households are on the standard variable tariff. Some fixed deals currently beat the £1,641 cap, and the cap is forecast to rise in July. Compare now.
The standard variable tariff is capped at £1,641 per year for a typical dual-fuel household in Q2 2026. Some fixed deals in the market currently come in below this. The cap is forecast to rise by up to 13% in July 2026. Comparing now and fixing before July could protect against that increase and potentially reduce your annual bill.
What does the energy market look like in 2026?
| Tariff type | Current rate | Price certainty | Worth comparing? |
|---|---|---|---|
| Standard variable tariff | £1,641/yr cap (Q2 2026) | None. Rises with cap | Yes. Compare before July cap rise |
| Fixed rate deal (12 month) | Varies by supplier and postcode | Locked for contract length | Yes. Some deals beat the cap |
| Fixed rate deal (24 month) | Varies by supplier and postcode | Locked for 2 years | Worth comparing for certainty |
| Tracker tariff | Follows cap with fixed discount | Partial. Discount is fixed, rate tracks cap | Depends on discount level |
Standard variable tariff cap based on Ofgem Q2 2026 price cap (1 April to 30 June 2026). Source: Ofgem. Last updated May 2026.
What to look at when comparing energy tariffs
Annual cost, not just the unit rate
A lower unit rate does not always mean a lower total bill. Standing charges vary significantly between tariffs and can add up to £300 or more per year. Always compare on estimated annual cost using your actual kWh usage, not just the headline rate.
Exit fees
Some fixed deals have exit fees if you leave early, typically £30 to £75 per fuel. Others have no exit fees and let you switch freely. If the market moves and cheaper deals appear, no-exit-fee tariffs give you more flexibility.
Contract length vs cap forecast
The July 2026 cap is forecast to rise by up to 13%. A 12-month fix starting now locks you out of that increase. A 24-month fix protects further but carries more risk if wholesale prices fall significantly. Consider your appetite for price certainty against flexibility.
Dual fuel vs single fuel
Dual-fuel deals bundle gas and electricity with one supplier. Sometimes dual fuel is cheaper overall, but sometimes the best deal for each fuel comes from different suppliers. Compare both options using your usage figures to see which works out cheaper for your home.
Should I fix my energy tariff before July 2026?
The Ofgem price cap is forecast to rise by up to 13% in July 2026. For a typical household currently paying around £1,641 per year, a 13% rise would add around £213 to the annual bill. Households on a fixed deal would not be affected by that increase for the length of their contract.
Fixed deals that sit at or below the current cap level are available in the market right now. If you can find a fixed deal that is at or under £1,641 per year for your usage, it is worth seriously considering. Even a deal that matches the current cap gives you protection against the forecast July rise with no extra cost upfront.
The caveat is that if the cap falls after July, a long fixed deal could leave you paying above the new cap level. Most analysts currently forecast the cap to remain at similar or higher levels through the rest of 2026, making a 12-month fix the lower-risk option compared to staying on the variable rate.
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Questions people ask
The cheapest tariff varies by postcode, meter type, and payment method. There is no single national cheapest deal. The standard variable tariff is capped at £1,641 for Q2 2026, but some fixed deals come in below this. Comparing by postcode is the only way to find the cheapest deal for your home.
For most households on a standard variable tariff, fixing is worth considering. The cap is forecast to rise by up to 13% in July. Fixed deals that beat the current cap are available. Locking in before July protects against that increase. Compare by postcode to see what is available for your home.
You need your postcode, current supplier name, and ideally your annual kWh usage from a recent bill. Without your kWh figure a comparison will use typical consumption figures, which gives indicative rather than precise results. More accurate usage gives more accurate annual cost estimates.
No. Comparing energy tariffs does not affect your credit score. Some suppliers run a soft credit check when you sign up, but this does not appear on your credit file and does not affect your score.
Yes, if you pay your own energy bills directly. Tenants who pay bills in their name have the same right to switch as homeowners. Check your tenancy agreement if unsure. If your landlord pays the bills and recharges you, you cannot switch independently.
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