This means that you are signing up to a contract that lasts for a specific period of time, usually 12 or 24 months. The price you pay during this time may still change, unless the tariff rate is also fixed (see below). If you choose to switch tariff before the end of your contract period, you may be charged an exit fee by your supplier.At the end of a fixed term contract, if you haven&#x27;t chosen to switch to a different plan then you will usually be charged your supplier&#x27;s standard rates, though your terms and conditions will set out what applies here.If you are on a fixed term contract, your supplier is required to display the end date of your contract prominently and clearly on your bills. It is important to know this date, so you can check what tariffs are available on the market before your fixed term contract ends and decide which plan would be best for you next.If you are a residential customer, your supplier is also required to notify you between 30 and 60 days before the expiry of your fixed term contract. They may write to you separately, or include a message on your bill.

Fixed Term

It is common industry practice in Ireland for energy suppliers to offer residential customers a contract with a discounted rate. This means that the contract is priced as a discount on the supplier’s standard rate, for example 10% off. A fixed discount means that the discount you sign up to is fixed for a certain period of time.While the size of the discount (e.g. 10%) would not change during this time, the rates you are charged may still change, unless the tariff rate is also fixed (see below). If your supplier’s standard rate were to increase, you would still receive the discount, but off a higher standard rate.

Fixed discount

The majority of domestic energy tariffs in Ireland are variable rate tariffs, so rates can fluctuate up or down.With fixed rate tariffs, the unit rate (the rate you pay per kWh of energy consumed) and/or standing charge (the daily charge you pay for consuming energy) of the tariff you sign up is fixed for a certain period of time.If your supplier were to announce a general price increase while you were on a fixed rate tariff, your tariff would not increase. However, if your supplier were to announce a general price decrease, your tariff would also likely not decrease (depending on the terms and conditions of that tariff).While the rates you are signed up to would not change, the total amount of your bill would still vary depending on how much energy you consumed.

Fixed rate

Business customers often have bespoke contracts with energy suppliers. These may include various charges relating to the supply of energy, such as network use of system costs.Different suppliers will structure these charges in different ways, and some charges may be fixed for a period of time. Customers should read their quotation, contract, and terms and conditions carefully to ensure they understand which charges are subject to change during the contract period.

Fixed Plans

Switching