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19 million UK households are on the standard variable tariff, and the cap rose 4% on 1 October to £1,723. Some fixed deals can beat it. Compare now.
The standard variable tariff is capped at £1,723 per year for a typical dual-fuel household from 1 October to 31 December 2026, a 4% rise on the summer cap that fell almost entirely on gas. VAT also came off domestic electricity from 1 October. Some fixed deals in the market can come in below the cap. Comparing now and fixing at or below the cap locks your price against whatever the January review brings.
What does the energy market look like in 2026?
| Tariff type | Current rate | Price certainty | Worth comparing? |
|---|---|---|---|
| Standard variable tariff | £1,723/yr cap (Q4 2026) | None. Rises with cap | Yes. Cap rose 4% on 1 October |
| Fixed rate deal (12 month) | Varies by supplier and postcode | Locked for contract length | Yes. Some deals can 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 the Ofgem price cap for 1 October to 31 December 2026. Source: Ofgem. Last updated September 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 the cap cycle
The cap is reviewed every January, April, July, and October, and it rose 4% at the October review. A 12-month fix locks your price through the next four reviews. A 24-month fix protects further but carries more risk if wholesale prices fall significantly. Weigh 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 this winter?
The cap turned upward at the October review: a typical household on the standard variable tariff now pays £1,723 a year, £60 more than over the summer, with almost all of the increase landing on gas. The next review takes effect in January, announced in late December, right in the middle of the heaviest usage months.
Fixed deals that sit at or below the current cap can be found in the market. If you can find a fixed deal at or under £1,723 per year for your usage, it is worth serious consideration: even a deal that only matches the cap locks your winter price while the variable rate stays exposed to the January and April reviews. What usually happens when the cap is rising is that households who fix ahead of an increase pay less over the fixed period than those who stay variable.
The caveat is that if the cap falls, a long fixed deal can leave you above the new level, which is why exit fees matter and why a 12-month fix is the lower-commitment way to buy winter certainty. See our gas and electricity guide for how the switch itself works.
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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 £1,723 for a typical household from 1 October to 31 December 2026, but some fixed deals can 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 rose 4% on 1 October to £1,723 and is reviewed again in January. A fixed deal at or below the current cap locks your price against future quarterly changes. 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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