Energy prices are falling, should I fix my tariff?

Great news! With the April 2026 price cap announcement, you’ve probably heard that energy prices are going down to £1,641 for an average household each year.

Did you know that we have a tariff with prices that stay below the price cap? Our Next Pledge tariff costs less per unit than the price cap unit rate, whether it goes up or down. With our Next Pledge tariff, you'll get energy prices guaranteed to stay below the Ofgem price cap - saving you £100 based on average annual consumption✱. T&Cs apply. Get a quote today. So, are you better off fixing your tariff now or staying on the standard variable tariff (SVT)? We’ve put together a helpful guide to support you in making the right decision for your home.

Included with a fixed tariff.

• No unexpected price increases. By fixing your tariff you are protected from fluctuations in the price cap, meaning your energy price cannot increase during the length of your contract.

• Budget with confidence. Know exactly what you are paying for each unit of energy you use, allowing you to budget for your bills with confidence.

Not included with a fixed tariff.

• Flexibility. Whilst a fixed tariff offers more security, it comes at the cost of flexibility. Fixed tariffs have a set contract duration (usually one or two years). If you want to switch tariffs during this time you may be subject to exit fees.

• Prices may get lower. The flip side of being on a tariff that doesn’t change with the price cap, is that if prices get lower you will be fixed at a higher energy price until the end of your contract.

Switch to Next Pledge.

With our Next Pledge tariff, you'll get energy prices guaranteed to stay below the Ofgem price cap - saving you £100 based on average annual consumption. T&Cs apply.

Unlike other fixed tariffs, you'll also benefit if energy prices drop.

• Guaranteed savings vs the price cap.
• Automatically benefitting if energy prices drop.
• £25 exit fee per fuel if you change supplier..

Switch to Next Pledge

Is now the best time to fix my tariff?

Unfortunately, like you, we cannot see into the future - which means you can never be certain when the best time is to fix your energy tariff. We recommend instead weighing how much you value the certainty of a fixed price with the affordability of your fixed tariff quote. If you feel that you can comfortably afford the energy price you are quoted for the next 1 to 2 years, then you may enjoy the security that comes with a fixed tariff. You will be protected from price increases, and can feel confident that your bills are within your budget for the duration of your contract. No more stress around price cap announcements, instead sit back and relax. However, if you would prefer to wait and see how the market develops, you may be able to get a better quote in the future. Just be aware that this is not guaranteed, and you also risk your energy prices increasing. Ultimately, the decision to get a fixed tariff, and when, is up to you. There really is no right answer. So unless you stumble across a time traveller from the future, be wary of anyone telling you otherwise. (And let’s be honest, if you did, you’d be asking for lottery numbers not fixed tariff prices. We know we would!).

If you’re looking to join E.ON Next it’s quick and easy to get a quote. Already a customer? Sign in to your account dashboard to see what tariffs are available to you.

What about the EPG?

The government's EPG ended on 31 March 2024. Since July 2023 you have no longer received government support from the Energy Price Guarantee (EPG), which kept the maximum energy price at £2,500 a year for an average household. The price cap now determines unit prices.

Struggling to pay.

If you are struggling to pay your bills we are here to support you. From free debt advice from our partner StepChange, to grants from the E.ON Next Energy Fund that will help you pay your energy bills or replace essential appliances. Find out more about the support on offer and see if you are eligible for help with your energy bills.

• ✱ Next Pledge is a 12-month fixed term tracker tariff with variable rates that are always lower in comparison to the Ofgem Price Cap, that applies to standard variable tariffs. £100 saving is applied as a reduction on unit rates split across both electricity and gas (£50 saving per fuel) based on Ofgem average dual fuel customer. Actual savings depend on usage and region. Payment by Direct Debit required. £25 exit fee per fuel if you change supplier.