Personally I’d strongly consider going with a variable contract if you are up for renewal. There is a lot of uncertainty in energy prices, and unsurprisingly the energy companies know this too. You don’t stay in business if you charge less than it costs you, so when there is a lot of uncertainty they all price their fixed cost offers higher to cover this risk.
Also, the UK does have energy caps, but the laws around this were to protect people on prepay meters. As such, the caps only apply to a providers default variable offering, not fixed cost deals. Under the current conditions I think you’re better to let the cap limit your cost than the certainty of a fixed cost plan. The current caps are:
My contract has just come up and this is the variable rate (for fully renewable), the fixed cost plans were pretty much double the price.
Obviously, you have to make the decision that’s right for you, but I just thought I’d share