A fixed price plan is when a customer pays the same amount every month for a set period of time. This allows you to contract with a competitive energy supplier for electricity or natural gas and be billed at the same amount per kWh or Mcf for a specified period of time. The price per kWh or Mcf will be the same each month (for example $0.0580 per kWh) for the contract period. The price will not increase or decrease over the term of the contract. Any changes in your use or the market rate of natural gas and electricity should not affect the rate you pay per unit.
In Ohio, a law was passed that brokers and suppliers could no longer use the term fixed because in case of extreme conditions, such as a power plant closing or the coldest winter ever, the price will change. The term we use now is firm. This is basically the same as fixed. Your rate won't change during your term agreement unless something catastrophic happens.