The case for fixing
- Forecasters expect the January 2027 cap to be higher than October’s £1,723, with Cornwall Insight’s September forecast around £1,872.
- Ofgem said in August that fixes were available at £100 or more below the October cap.
- A fix gives certainty through the coldest months.
The case against
- If wholesale prices fall, you could be stuck paying more, or pay an exit fee to leave.
- Forecasts change: the January cap isn’t set until late November.
- A fix priced above the current cap only pays off if prices rise enough.
A simple rule of thumb
A fix at or below today’s cap, with low or no exit fees, has little downside. A fix well above the cap is a bet on rising prices. Run the numbers with your own kWh using our deal checklist.
Last updated: 15 October 2026
