What is the energy price cap and how are gas and electricity bills changing?

Fixed-priced deals offer certainty for a set period – often a year, or longer – but if prices drop, you could be stuck at a higher price.

Ofgem says customers who want the security of a set price should consider fixed deals.

However, it recommends getting independent advice.

The price comparison site Uswitch says it is important to check whether fixed deals have exit fees before signing up and to make sure you fully understand the terms of the contract.

Because the price cap changes every three months, it is difficult to know with any certainty whether a fixed tariff is a good deal. The longer the fixed term, the greater the uncertainty.