TL;DR
- Scottish Power Fixed Saver is the supplier's fixed-rate product. Available in 12 and 24 month versions, priced 5 to 8% below the Ofgem default tariff cap on launch.
- April 2026 12-month Fixed Saver headline: unit rates approximately 25.50p per kWh electricity, 6.65p per kWh gas in the Central Scotland region. Standing charges at cap level.
- Exit fee is £75 per fuel for the 12-month version, £150 per fuel for the 24-month version. Customers leaving early pay these.
- The fix protects against rising wholesale prices for the term. It exposes the customer to a falling cap if wholesale moves down.
- Best fit for risk-averse households expecting cap rises. Worst fit for households who plan to move or switch frequently.
Last reviewed: May 2026
Scottish Power Fixed Saver is a textbook UK retail energy fix. The unit rate is locked for the term, the standing charge follows the regional cap, and the exit fee discourages mid-contract churn. The supplier prices the fix below the prevailing cap to attract switchers. Whether the customer comes out ahead depends entirely on what the cap does over the contract term, which is a guessing game even Ofgem cannot reliably predict more than one quarter out.
The right way to evaluate the fix is as insurance, not as an optimisation. The customer is paying for predictability.
How Fixed Saver is structured
The Fixed Saver locks both the unit rate and the standing charge for the contract term, 12 or 24 months. The unit rate is set at sign-up, applies to all consumption for the term, and does not adjust when the Ofgem cap moves. The standing charge follows the regional cap rate at sign-up and is held for the term.
The customer pays the same rates whether they use 2,000 kWh per year or 8,000 kWh. The fix is a unit rate commitment, not a total bill commitment.
Smart meter not required at sign-up. Scottish Power offers to install one within the standard 10 to 14 week lead time, but the customer can decline and stay on the Fixed Saver with a traditional meter.
The April 2026 rates
Sample Fixed Saver rates from the Scottish Power tariff page on 1 April 2026, inclusive of VAT.
| Region | Term | Elec unit (p/kWh) | Gas unit (p/kWh) | Standing charges (elec/gas, p/day) |
|---|---|---|---|---|
| Central Scotland | 12 months | 25.50 | 6.65 | 61.04 / 32.67 |
| Central Scotland | 24 months | 25.95 | 6.78 | 61.04 / 32.67 |
| North West England | 12 months | 25.30 | 6.65 | 56.32 / 32.67 |
| London | 12 months | 25.18 | 6.65 | 40.55 / 32.67 |
| South Wales | 12 months | 25.65 | 6.65 | 61.92 / 32.67 |
For a medium-consumption household in Central Scotland on the 12-month fix, the annual cost lands around £1,665 against the cap-equivalent £1,770. The 6% saving over the cap, sustained for 12 months, is £105 if the cap does not move.
The exit fee and what it means in practice
The exit fee on Fixed Saver is £75 per fuel for the 12-month version (£150 for dual fuel), and £150 per fuel for the 24-month version (£300 for dual fuel). The fee applies if the customer leaves before the contract end date.
Ofgem rules allow the customer to switch in the last 49 days of the contract without paying the exit fee. The customer can also leave penalty-free if Scottish Power changes the contract terms materially, although price changes during the term are not normally permitted in a fix.
The catch is that the exit fee makes the fix expensive to escape if wholesale prices fall sharply. A customer locked into a 24-month fix who could save £200 a year by switching to a falling-cap product would need to weigh the saving against £300 in dual-fuel exit fees. The math sometimes works out in favour of paying the fee; often it does not.
Customers who move address during the term can take the Fixed Saver to the new property if the new postcode is on Scottish Power's network. If not, the contract usually ends without an exit fee, although the customer should confirm with the supplier before assuming.
Fix vs cap: the basic economics
The fix beats the cap in any quarter where the cap is higher than the locked rate. The fix loses against the cap in any quarter where the cap is lower than the locked rate.
Over a 12-month term, the cap is recalculated four times. The customer is exposed to the average cap level over those four quarters, weighted by consumption. A fix priced 6% below today's cap locks in that 6% saving for the quarter starting today. The other three quarters depend on cap movement.
If the average cap movement over the term is flat, the fix saves the locked discount: roughly £100 to £120 on a medium household. If the cap rises 10%, the fix saves the locked discount plus the rise on subsequent quarters: potentially £250 to £300. If the cap falls 10%, the fix loses the gap and the customer is paying above-cap for several quarters.
The history matters here. Over 2024-26 the cap has moved in both directions across quarters. Fixes have won and lost in different windows.
When Fixed Saver wins
The fix wins when wholesale prices rise during the contract term. Historical context: customers who fixed in summer 2021 captured rates from the pre-crisis period and held them through the 2022 wholesale spike. Their fixes saved them hundreds of pounds while standard variable customers absorbed the full price shock.
The same pattern can repeat. A fix taken when wholesale is calm provides insurance against any future spike. The cost of that insurance is the difference between the fix and the lowest available variable product at the moment of sign-up.
The fix also wins for customers who value certainty in monthly budgeting. The locked rate means consumption variations show up directly in the bill without compounding rate uncertainty. For households on tight monthly budgets, this can outweigh the financial-optimisation considerations.
When Fixed Saver loses
The fix loses in a falling wholesale market. The cap drops; the fix stays put. Customers locked in for 24 months can pay above-cap rates for many quarters before the contract ends.
The fix also loses for customers who switch addresses or suppliers frequently. The exit fees compound; a customer who took a 24-month fix and moved twice during the term could pay £600 in exit fees.
The fix can underperform against a cap-linked tracker product like EDF Tracker. The Tracker captures the cap plus a small discount; the fix locks in a single rate that can drift above the cap over the term. For households comfortable with quarterly variability, Tracker is often the better risk-adjusted choice.
It is also wrong for households with strong load-shifting capability who could benefit from a smart tariff like Octopus Agile or Cosy. The Fixed Saver flat rate does not reward load shifting.
The 24-month version: when it makes sense
The 24-month Fixed Saver locks rates for twice as long with a small unit rate premium over the 12-month version. The premium reflects the supplier's hedging cost over the longer term and the option value of the customer's commitment.
A 24-month fix makes sense when the customer expects sustained upward pressure on wholesale prices, when budgeting certainty matters more than potential savings, and when the customer plans to stay in the property and on Scottish Power for the full term.
The risk is that wholesale prices fall and the customer is locked in. The £300 dual-fuel exit fee is a real friction. Customers should not take the 24-month fix if there is a meaningful chance of needing to switch within the next two years.
Where it breaks: customers who expected stable energy prices for 24 months and were caught by a sharp cap fall in early 2024 paid above-cap rates for the rest of their term. The fix did what it promised; the wholesale market moved against them.
Sign-up and the standard process
Sign-up is through the Scottish Power online quote tool. The customer enters postcode and current supplier, sees the available Fixed Saver options, and selects a term. The switch completes within five working days under the Ofgem May 2022 switching rules.
Direct debit is the standard payment method. Cash and cheque are available with small per-payment fees. Smart meter customers see the same rates as traditional meter customers; the fix is not smart-meter-gated.
Customers should compare the Fixed Saver rates against alternatives at the moment of sign-up. The supplier's own variable, EDF Tracker, OVO standard, and Octopus Flexible are all benchmarks. The fix's discount should be meaningful enough to justify the exit fee constraint.
What a fix priced 6% below cap actually buys
A fix at 6% below the prevailing cap can be analysed three ways. As a single-period saving: the customer saves 6% on every kWh consumed during the fix term, sustained even if the cap moves. As an option value: the customer gives up the ability to capture cap falls in exchange for protection against cap rises. As insurance: the customer pays a small premium against the unknown wholesale future.
Looking at the historical record for similar fix products, customers who fixed when wholesale was rising captured significant savings (the 2021 cohort saved £500-£1,500 over their fix term). Customers who fixed when wholesale was falling underperformed against the cap (the early-2024 cohort paid an estimated 4-8% above the cap by the end of their fix).
For 2026, wholesale futures published in April 2026 suggest moderate stability with some upside risk on European gas markets. A 12-month fix at 6% below the current cap is roughly neutral in expected value. Customers willing to take cap exposure for the chance of falling rates should not fix. Customers who value certainty should.
The exit fee of £75 per fuel on the 12-month version is a real friction. A customer who finds a much cheaper product mid-contract has to weigh whether the saving exceeds the exit fee. In practice this calculation works out in favour of switching only when wholesale falls dramatically.
Editorial disclaimer. Kaeltripton is an independent UK finance publisher. This article is general information for UK adults making their own decisions, not regulated financial advice. Fixed-rate tariff terms and cap levels change. Figures reflect Scottish Power and Ofgem publications dated before the last-reviewed date at the top of this page. For complaints, refunds, or vulnerable-customer protection the formal route runs through the supplier first and then the Energy Ombudsman.
FAQ
Is the Fixed Saver cheaper than the cap?
On launch, yes. The supplier prices the fix below the prevailing cap to attract switchers. Whether the fix beats the cap on average over the term depends on cap movement during the contract.
Is leaving the fix without an exit fee possible?
Yes, in the last 49 days of the contract under Ofgem rules. At other times the exit fee applies: £75 per fuel for 12-month, £150 per fuel for 24-month.
Is a smart meter required for the Fixed Saver?
No. Smart meter is not required. The supplier offers to install one within standard lead times.
What happens at the end of the fix term?
The customer rolls onto Scottish Power's standard variable unless they actively choose another tariff. The supplier sends a notice in the 60 days before contract end.
Can the fix transfer to a new address?
Usually yes, if the new postcode is served by Scottish Power. The contract continues at the new address. If Scottish Power does not serve the new area, the fix ends without exit fee.
Can a smart meter be added mid-contract?
Yes. Smart meter installs are available throughout the fix term. The installation does not affect the fixed rates.