As the name suggests, this type of contract means that you’ll pay the same amount of money (pence per kWh of energy) for the contract duration that you signed up for.
These can typically vary between 1 year to as far as 5 year contracts.
Why would I want to take this type of contract?
It’s often the best way to protect you against energy price rises
You can predict your bills and have more control
Supplier absorbs all the risk.
Typically these are 1-5 year contracts so you can budget longer term.
You aren’t a risk taker
Why would I not want to take this type of contract?
You are stuck in this contract if the market was to fall
Timing when to purchase is the secret but this is often very difficult