Should I fix my energy tariff? The low down on how to get the best deal

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If you’re not sure if you should fix your energy tariff, you’re not alone. The last 12 months or so have been full of volatility around energy prices. April 2022 saw a massive 54% increase in the energy price cap and it was due to skyrocket again in October 2022. This caused the government to intervene and introduce the Energy Price Guarantee in order to keep energy bills remotely affordable. 

This price guarantee effectively replaced the energy price cap, and meant that the average annual energy bill for a typical household (based on typical use) would be no more than £2,500. But with our energy suppliers paying sky high prices to buy the energy they sell to their customers from the wholesalers, the government stepped in to make up the shortfall.