Energy suppliers offer both fixed rate and flexible tariffs for electricity – but fixed rate tends to be the norm as it gives businesses protection from fluctuating prices. The drawback is (as it is with domestic electricity) that prices won’t go down if the wholesale price does.
Tariffs will generally be between 12 and 60 months (1 to 5 years) in length.
Flexible tariffs reflect the market, so while you could make savings, you could also end up paying more than you would have done on a fixed rate. Some flexible tariffs allow you to switch supplier with just 30-days’ notice.
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