Choosing between a fixed and a variable (standard) tariff depends on how much risk you're comfortable with and how important predictable bills are. This tool asks a few short questions and suggests whether a fixed tariff, a variable one, or a short fixed might suit you best. It's guidance only—your own circumstances and the deals available when you switch will determine the best option.
Fixed vs variable decision tool
Answer a few quick questions to get a simple recommendation: fixed tariff, variable (SVT), or a short fixed.
Frequently asked questions
- What is the difference between fixed and variable tariffs?
- A fixed tariff locks your unit rate and standing charge for the contract term, so your bills are more predictable. A variable (standard) tariff can change when the supplier changes its prices, so you have less certainty but may benefit from price cuts.
- When is a fixed tariff a good idea?
- Fixed tariffs can suit people who want budget certainty and prefer to avoid the risk of price rises during the contract. They are often chosen when people want to lock in a rate for a period.
- What is a short fixed tariff?
- A short fixed is typically a 12-month (or shorter) fixed deal. It gives some price certainty without a long commitment, so you can reassess when it ends.
- Is variable tariff the same as SVT?
- Often yes. "Variable" and "standard variable tariff" (SVT) are commonly used to mean the supplier's default rate that can go up or down. Your supplier may use one of these terms on your bill.
- Will the tool tell me which tariff is cheapest?
- No. The tool recommends a type of tariff (fixed, variable, or short fixed) based on your preferences. The actual cheapest option depends on current deals and your usage; compare offers when you're ready to switch.
- Can I switch again later if I choose wrong?
- Yes. If you're on a variable tariff you can usually switch at any time. If you're on a fixed deal there may be an exit fee for leaving early, so it's worth using the exit-fee break-even tool before committing.
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