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This tariff type gives you a guaranteed energy price for a set period of time, for around 12 to 18 months. After this period, you can switch energy suppliers and save money again, but keep in mind that you may be charged a fee for leaving.

Fixed-rate tariffs are ideal for keeping control of your energy budget, and you’ll probably pay less than a standard tariff. Remember though, only the cost of the power units you use is fixed, so if you use more energy than usual, your bills will be higher but the extra energy use will be charged at the fixed rate.

The point of fixed-rate tariffs is to protect you from inflating energy prices. Once your fixed-rate plan ends you’ll need to find another energy supplier. If you don’t, your current supplier will likely change you over to a variable rate plan.

Many energy suppliers offer the same tariff to switch gas and electricity. This is so you don’t need to switch each one separately and so that both energy types are with the same provider.

To make it easy, many customers opt for a dual fuel tariff as it’s more convenient than dealing with different energy suppliers. It also means you only have one point of contact if you have any issues with energy usage, billing or meters.

Some electricity and gas suppliers will offer you a discount if you have both types with them, so a dual fuel tariff may work out cheaper. Keep in mind though that having separate suppliers can also be cheap, so be sure to shop around to ensure you get the best dual fuel deals.

With a variable tariff, prices can go up or down depending on the market. Although variable tariffs can be cheap, the price will fluctuate. This can be a good thing when gas and electricity prices go down, but not so great when they rise!

If you want to be sure of how much your energy bills will be, a fixed-rate plan is recommended. Most energy suppliers will have a Standard Variable Tariff as a default energy plan.

If you had a contract that came to an end, your supplier will probably have switched you onto this tariff. With a standard tariff there usually aren’t any cancellation or exit fees and as such you should be able to switch at any time.

Green or renewable tariffs can operate in a few different ways. One option is that however much energy you use, the same amount will be given back from renewable sources to the National Grid.

Another option is for your provider to supply you with 100% renewable energy, or a combination of renewable and non-renewable energy. They may also choose to contribute to environmental projects.

Although green tariffs aren’t always expensive, the price isn’t their selling point and they can work out costing more than the cheapest tariffs. Despite this, the green energy market is becoming popular, with more and more people opting for this eco-friendly solution.

Many gas and electricity suppliers have prepayment tariffs that you can switch to. For a prepayment plan, you would have to pay for the energy usage before you’ve used it. However, don’t confuse it with a credit meter. A credit meter means you’ll be billed for how much you’ve used after you’ve used it.

You can top up your pre-paid tariff by taking your token, key, or card to a newsagent’s. With that said, many suppliers are allowing customers to top up their tariffs online through their website or through an app.

If you’ve found yourself in debt your supplier may have asked you to move to a pre-paid plan, or you might inherit one when you rent or buy your home. If you manage to settle the account debt, you may be able to switch to a credit meter.

Pre-paid tariffs are capped by Ofgem, so they can’t charge more than a certain rate. This energy price cap is assessed and updated every 3 months, but pre-paid rates are generally more expensive than fixed energy deals.

Economy tariffs are available in two different types, Economy 7 or 10. With these tariffs, you’ll usually get what’s called “off-peak” energy for a set number of hours a day, typically 7 or 10.

The off-peak hours of Economy 7 are normally around midnight to 7 am. This is because there’s likely to be less energy used during these overnight hours. Economy 10 spreads the cheapest hours through the day at certain times.

If you’re not sure which Economy tariff you’re on, be sure to check your most recent bill. When you buy a property it may come with an Economy 7 meter, but you might find it doesn’t suit you. You may not be able to get the most out of the cheaper overnight hours.

If that’s the case, you can contact your gas and electricity supplier and ask for it to be changed to a credit meter. When you run an energy comparison with an economy 7 meter, remember to select this type of meter for the results as it will change what’s available for you.

To get a more accurate comparison, it’s also handy to know the amount of each energy you’re using at different rates.