The count of fixed energy tariffs available across the market dropped from 39 on Friday 27 February to 20 by 2pm on Friday 20 March, according to data published by the comparison service Uswitch on 20 March 20261. Over the same period the cheapest non-bundled fixed tariff rose from £1,509 to £1,862 a year for a typical household1.
The fall was not steady. The total stood at 39 from 27 February to Sunday 1 March, then fell to 33 on Monday 2 March and 18 on Tuesday 3 March. It reached a low of 15 on Wednesday 4 March before recovering to 24 on Tuesday 17 March, then dropping again to 18 on Thursday 19 March1. The cheapest tariff held at £1,509 until 2 March, moved to £1,640 on 3 March, and climbed through £1,656, £1,648 and £1,646 before reaching £1,862 on 19 March1. Uswitch attributes the movement to a spike in wholesale energy costs caused by conflict in the Middle East1.
| Date | Fixed tariffs available | Cheapest non-bundled fixed tariff |
|---|---|---|
| Friday 27 February | 39 | £1,509 (Outfox Energy) |
| Monday 2 March | 33 | £1,509 (Outfox Energy) |
| Tuesday 3 March | 18 | £1,640 (Outfox Energy) |
| Wednesday 4 March | 15 | £1,640 (Outfox Energy) |
| Tuesday 17 March | 24 | £1,690 (Outfox Energy) |
| Thursday 19 March | 18 | £1,862 (Sainsbury's Energy) |
| Friday 20 March, 2pm | 20 | £1,862 (Sainsbury's Energy) |
Source: Uswitch.com1. Prices are based on average consumption for a typical household and do not include the removal of certain levies due from 1 April1.
Uswitch also published survey results from Opinium, conducted online between 13 and 18 March 2026 among 2,002 UK energy bill-payers. Eight in ten households (80%) said they were worried their energy bill would rise because of the conflict in Iran, with 40% very worried and 39% slightly worried1. Three-fifths (59%) were unaware that energy bills will fall for everyone on 1 April1. Asked what action they expected to take the next time they need to make a decision, 26% said they planned to do nothing, 23% said they planned to switch to a fixed tariff, 12% said they planned to stay on a standard variable tariff, 5% said they planned to switch to a tracker tariff, 2% said they could not switch due to energy debt and 29% said they did not know1.
Richard Neudegg, director of regulation at Uswitch, said:
The April price cap was decided on Wednesday 25 February, days before the Iran conflict began, and Uswitch states it will still fall 6.7%, or £117 for average annual consumption, mainly because the Government is removing certain levies from bills1. Uswitch cites Cornwall Insight predictions that the July cap could rise by nearly £332, or 20%, to £1,973 a year, though it notes this is early in the observation window1.
Why it matters for households
A fixed tariff sets unit rates for a term, so the number of deals on offer and their price determine what certainty costs at any given moment. With 20 tariffs available rather than 39, and the cheapest at £1,862 rather than £1,509, the entry price for locking in rates has risen by £353 a year on Uswitch's figures1. Households on a standard variable tariff remain exposed to whatever Ofgem sets for July, and the current prediction cited is a rise of about 20%1. The April reduction applies to fixed deals as well as the cap, because it comes from removing levies rather than from wholesale costs1. Uswitch notes that fixed deals can be removed or repriced quickly during volatile periods1. The survey found 59% of bill-payers did not know bills are falling on 1 April, and 29% did not know what they would do next1.
What happens next
The April price cap takes effect on 1 April 2026, cutting bills by 6.7% for those on default tariffs1. Ofgem will set out the July price cap rates at the end of May1. Uswitch's survey found 26% of households plan to do nothing about their energy bills and 29% are unsure what action to take1.