Octopus 12M Fixed: tariff explained (2026)

Octopus 12M Fixed is a fixed-rate dual-fuel tariff that locks in the price you pay for your gas and electricity for a full 12 months. Both halves of your bill are fixed: the unit rate (the pence-per-kWh you pay for what you use) and the daily standing charge. It is the straightforward, no-surprises option for people who would rather know exactly where they stand than ride the wholesale market up and down.

What is Octopus 12M Fixed?

Octopus 12M Fixed is a fixed-rate dual-fuel tariff that locks in the price you pay for your gas and electricity for a full 12 months. Both halves of your bill are fixed: the unit rate (the pence-per-kWh you pay for what you use) and the daily standing charge. It is the straightforward, no-surprises option for people who would rather know exactly where they stand than ride the wholesale market up and down.

Who it’s best for

• Budgeters who want one steady, predictable price for the next year rather than a bill that moves every three months with the price cap
• Households that don't want to actively manage usage or watch wholesale rates — set it and forget it, unlike Agile or Tracker
• Anyone who thinks energy prices may rise over the coming year and wants to lock today's rate in before they do
• People who like the safety net of a fix but hate being trapped — Octopus fixed tariffs typically carry no exit fees, so you can still leave if a better deal appears

How it works

When you join, Octopus sets your unit rates and standing charge at the level offered the day you sign up, and those numbers stay put for 12 months no matter what happens to the Ofgem price cap or wholesale prices in between. If the market climbs, you're shielded; if it falls, you keep paying your fixed rate rather than dropping with it — that's the trade-off you accept for certainty. Crucially, Octopus's fixed tariffs typically come with no exit fees, so if prices tumble and a cheaper tariff appears, you're free to move without penalty, which softens the usual downside of fixing. At the end of the 12 months you simply roll onto another tariff of your choice. Rates vary by region and change with the market, so always check the current 12M Fixed price for your postcode on octopus.energy before deciding — we won't quote a figure here because it would be out of date by the time you read it.

Whether you fix for certainty or not, joining Octopus through a referral link drops £50 of account credit onto your bill — and £50 onto the account of whoever shared the link. The credit lands automatically a few weeks after your switch completes and your first Direct Debit clears, on top of whatever the 12M Fixed rate itself is, so it's pure bonus.

Rates and availability change regularly — check current prices on octopus.energy. Last reviewed 1 June 2026.

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