Fixed energy deals have all but disappeared as an option for households. Read more:
However, Natalie Mathie, an energy expert at the switching site Uswitch.com, believes the fall in the price cap will be "a watershed moment" for suppliers, "who can now look to start offering fixed deals again given the market conditions".
"We see no reason why energy suppliers cannot offer competitive fixed deals around the £2,000 level."Emily Seymour, of consumer group Which?, thinks we could start seeing such deals some time this year."It will be worth doing a bit of research to see if there's a deal out there that could be cost effective while also offering good customer service and low exit fees."
It offered a fixed 12-month tariff of £2,275 for existing customers, but anyone who signed up is now locked into that rate, meaning they will miss out when the new cap comes into effect.Martin Lewis, from personal finance website Money Saving Expert, has also questioned just how much choice consumers will get when fixed deals finally return.
That is because further substantial falls in energy prices will be unlikely, particularly if there is a cold winter in Europe, with the UK competing to buy gas and electricity with other countries. If you find yourself struggling to pay bills, consumer experts suggest speaking to your energy supplier about a payment plan that is manageable.
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