What Happened To Signed Up Fixed Energy Contract?

[OldChestNuts]

If the price freeze goes ahead with Truss action. What happens to the people who signed up for the fixed rate contract with their energy company at extortionate price, some will pay more than £3000.

[bednobs]

they will continue to pay the fixed rate. That's what fixing means

[douglas9401]

Two important words in English, 'don't panic'.

Some people can't think things through and may have landed in the sticky stuff imagining they were clever.

Help will be given though as a new PM wouldn't want to cause upset and it's not as if there will be consequences for her in her short time 'in charge'.

[OldChestNuts]

I am glad I waited for help form the gov (hopefully will get the help). Some friends had told me that they had signed up the fixed contract a few months ago.

[Hopkirk]

They can probably drop back to the standard rate.

[barry1010]

If they signed up within the last 14 days they can cancel as they have a cooling off period

[bednobs]

or they can pay the fee to come out of contract if there is one. My provider is octopus and they dont have a fee to change tarrifs

[gingejbee]

Perhaps they should have signed up for a fixed-rate deal earlier...I'm surprised at how many people remained on the variable-rate tariff.
(I signed a fixed-rate deal for 2 years last October and am paying just over £100 per month til Oct 23 with Octopus).