With the energy price cap doing its usual dance and the headlines switching between “prices are falling” and “bills are rising” every other week, trying to figure out your best move feels like a full-time job.
We’re finally seeing a few more fixed-rate deals popping up on the market, but the big question is whether they’re actually a bargain or just a clever way for suppliers to lock you in before prices drop again. It’s not as simple as just picking the cheapest headline figure anymore; you’ve got to weigh up exit fees, your own usage, and how much you’re willing to bet on what the market might do in six months.
If you’re sitting on a standard variable tariff wondering if it’s time to jump ship, you’re not alone. Here’s the reality of the current market and which deals are actually worth the paperwork, and which ones you’re better off ignoring.
Where the price cap currently sits
As of April 2026, the energy price cap is set at roughly £1,641 a year for a typical household paying by direct debit. That figure has come down slightly, which is why many people feel like things have stabilised. However, forecasts suggest that stability may not last. If wholesale prices rise again, the cap is expected to follow, which is exactly why fixed deals are starting to come back into the conversation.
The deals currently undercutting the price cap
There are only a small number of fixed tariffs currently coming in below the cap, and these are getting most of the attention.
Fuse Energy – Apr 2026 Fixed (15m) V12
£1,599 per year
£42 below the cap
Exit fees: £100 per fuel
Fuse Energy – Apr 2026 Fixed (13m) V11
£1,615 per year
£26 below the cap
Exit fees: £100 per fuel
These are the standout deals right now because they’re already cheaper than the cap and could look even better if prices rise later in the year.
The deals sitting close to the cap
Some fixed tariffs are hovering just above the current cap. These don’t offer immediate savings, but they still provide price certainty.
Outfox Energy – Fix’d Dual Apr26 12M v4.0
£1,645 per year
£4 above the cap
Exit fees: £75 per fuel
E.ON Next – Next Fixed 15m v22
£1,689 per year
£15 above the cap
Exit fees: £50 per fuel
These sit in that middle ground where the decision becomes less about saving today and more about avoiding potential increases later.
The deals that are clearly above the cap
This is where most of the market still sits. A lot of fixed deals are priced above the cap, which can make them look less appealing at first glance.
Outfox Energy – Fix’d Dual Apr26 12M v9.0 (Family Advantage+)
£1,671 per year
£30 above the cap
Exit fees: £75 per fuel
EDF Energy – Simply Fixed 2Yr Apr28v5
£1,690 per year
£49 above the cap (plus £25 cashback)
Exit fees: £75 per fuel
Sainsbury’s Energy – Fix and Save 15m v7
£1,699 per year
£58 above the cap
Exit fees: £50 per fuel
Ecotricity – EcoFixed 2 Year April 26 v1
£1,733 per year
£92 above the cap
Exit fees: £100 per fuel
EDF Energy – Simply Fixed Apr27v3
£1,786 per year
£145 above the cap
Exit fees: £50 per fuel
So Energy – So Bear 24m
£1,786 per year
£145 above the cap
Exit fees: £95 per fuel
These are the kinds of deals where you’re paying a premium for certainty. They only really make sense if you’re expecting prices to rise significantly.
Why these deals are appearing now
Suppliers are slightly more confident about short-term wholesale prices, which is why they’re willing to offer competitive fixed rates again. But that confidence is fragile. The energy market is still heavily influenced by global supply, political factors, and demand changes. That’s why this feels like a temporary window rather than a long-term trend.
Why small savings now can turn into bigger ones later
The deals under the cap don’t look dramatically cheaper at first. Saving £26 or £42 a year doesn’t feel like a big win. That being said, if the price cap rises later in the year, those same deals could end up saving much more. That’s the real logic behind fixing now. It’s not just about today’s price, it’s about where things might go next.
The trade-off you have to accept
There’s no way around it. Fixing your energy is always a balance between certainty and flexibility. Fix now, and you protect yourself from future rises, but miss out if prices fall. Stay on the cap, and you keep flexibility, but take on the risk of increases. You’re not necessarily going to find the perfect option, so you’ll just need to decide which risk you’re more comfortable with.
The detail people often overlook
Exit fees can make a big difference. Most of these deals charge between £50 and £100 per fuel if you leave early. That means you can’t always switch quickly if better deals appear later. A slightly more expensive tariff with lower exit fees can sometimes be the more flexible option.
What this means in real terms
Right now, the market is in a mixed position. A small number of deals are undercutting the cap, many are sitting just above it, and forecasts suggest prices could rise again. That combination is why experts are calling this a potential window. Not a guaranteed win, but a moment where fixing your energy bill starts to make sense again depending on your situation.
