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Suppliers could soon be offering cheaper fixed tariffs

Cheaper energy deals than the existing ones could soon become available in the market, experts suggest.

According to a recent analysis by Uswitch, energy suppliers are likely to be able soon to be offering fixed deals priced between £2,200 and £2,500, as wholesale energy costs have dropped by 60% since December 2022.

A survey of 2,000 people, conducted by Opinium, has found that the majority of households (70%) are calling for fixed tariffs to be available immediately, with more than half (56%) stating that they would switch to cut their energy bills.

Three-in-five households (61%) would be willing to sign up to a fixed deal right now, though the majority (58%) would only do so if it was the same price or lower than they are currently paying.

However, currently, only 13% of households are on fixed deals, compared to 27 million on standard variable tariffs.

Uswitch.com is calling on energy suppliers to start offering fixed deals immediately to give consumers more choice and certainty in the energy market.

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