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Fixed Energy Tariffs Plummet Amid Rising Market Turmoil

3/7/2026

45 7 Full Breakdown

Summary

Story summary

Fixed-price tariffs have fallen from 38 to 15 in five days as wholesale costs rise amid the US-Israel conflict with Iran.
The cheapest fixed deal rose from £1,509 to £1,640.
Energy UK warns that ongoing gas market pressures could influence future price caps.
British Gas and Ovo Energy have removed fixed-rate options.
Octopus Energy has introduced exit fees for new fixed-tariff customers amid market volatility.

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Story summary

Fixed-price tariffs have fallen from 38 to 15 in five days as wholesale costs rise amid the US-Israel conflict with Iran.
The cheapest fixed deal rose from £1,509 to £1,640.
Energy UK warns that ongoing gas market pressures could influence future price caps.
British Gas and Ovo Energy have removed fixed-rate options.
Octopus Energy has introduced exit fees for new fixed-tariff customers amid market volatility.