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Fixed-priced deals offer certainty for a set period but, if prices drop, people could find themselves stuck at a higher price.<\/p>\n
The forecaster Cornwall Insight, which tracks the energy market, has suggested prices could increase again slightly in January, due to rising wholesale costs paid by suppliers. <\/p>\n
It says the typical home could pay \u00a31,762 a year. <\/p>\n
Given prices are rising, Ofgem says people should consider fixed deals as an option.<\/p>\n
However, it says they should seek independent advice and consider what is most important for them – the lowest price or the security of a fixed deal.<\/p>\n
Price comparison site Uswitch says the market for fixes is the best in recent years.<\/p>\n
Some deals allow you to fix for a year, some for longer.<\/p>\n
Uswitch warns customers should check whether fixed deals have exit fees before signing up and ensure they fully understand the terms of the contract. <\/p>\n
Because the price cap changes every three months, it is difficult to know with any certainty whether a fixed tariff is a good deal. The longer the fixed term, the greater the uncertainty.<\/p>\n<\/div>\n