Everyone from Martin Lewis to EDF and every energy expert in between will tell you now is an important time to move to a fixed rate tariff, but it’s sometimes a little difficult to determine why exactly. So here are some visual representations to help. The table above shows the predicted price cap values for the next 12 months, please bear in mind that the predictions get less and less reliable the further out you go, so the April 2025 price cap is pretty certain, but by January 2026 we’re gaxing into a crystal ball.
The price cap is expected to jump significantly in this month’s announcement, to come into affect on 1 April 2025, with predictions forecasting as much as a 7% increase (£122) from the current cap. The current predictions in the market are further increases in both July and October this year, so fixing to a tariff now is probably the best time to do it.
In the table, I have compared the Ofgem Price Cap predictions to the EDF Energy Simply Tracker Extra Apr26 tariff and the E.ON Next Next Fixed 16m v4 tariff. The price highlighted in red is the most expensive for that period, the price in yellow is the middle price and the price in green is the cheapest price for that period. The figures in this table are based on the average UK household consumption levels for gas and electric, which are 2,700 kWh for electricity and 11,500 kWh for gas and each figure is an annualised price for comparison purposes.
The table shows that, if predictions are correct, switching to the E.ON Next fixed rate tariff will save you over £150 over the next 12 months compared to the energy price cap, even though right now it will only save around £15 on the current price cap level.
You can use Uswitch to compare and save now by clicking here.
