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Thu, 05 Mar 2026

Thu, 05 Mar 2026 UK firms pull fixed energy deals as Iran war pushes up prices

Data suggests the number of fixed-term deals has more than halved as prices for wholesale energy surge.
Due to rising oil and gas prices, energy suppliers in the UK are removing fixed-price tariffs from the market at an alarming rate. According to data from Uswitch, the number of fixed deals available has plummeted by 61% since the weekend, with those remaining increasing in price significantly. The majority of "Big Six" firms have pulled their fixed tariffs, except for Octopus and EDF, who are still offering them. Energy UK attributes this to uncertainty in the wholesale fuel market caused by global events, making it difficult for suppliers to offer fixed prices. This development is expected to affect households struggling with rising energy costs, with many already finding it hard to pay bills due to price increases in food and services. The removal of fixed tariffs will likely impact customers on variable rates as well, who won't see a price increase until at least July.