One of Britain’s biggest energy providers has launched a fresh fixed-rate tariff option.

British Gas has brought out its Fixed Exclusive Jul27 v1 product, which remains exclusively accessible via Compare the Market until mid-April. The rates are set 15.9 per cent lower than the projected July price ceiling and sit 1.9 per cent underneath the current ceiling standing at £1,641.

The deal is open to both those already with British Gas and those looking to switch.

Tom Lyon, an energy expert at the price comparison service, noted that many families are currently weighing up whether to change tariffs or take out a fresh contract given the unpredictability stemming from recent international developments. He explained that checking what alternatives exist could reveal opportunities for customers to reduce their bills. He also noted that selecting a fixed-rate tariff provides protection against volatility in the marketplace since it secures unit costs for the full duration of the contract.

Customers who terminate early face a fee of £50 for each fuel type.