Engaging a penetrating bomber as in the intercept you describe involves different tactics than engaging another fighter in close quarters. You are correct, altitude is an advantage in a dog fight scenario. Trading airspeed for altitude may be an appropriate tactic in some fights depending on the capabilities of the adversary.
I admit I am stuck in WWII era tactics, but I do have a copy of “Fighter Combat: Tactics and Maneuvering” by Robert Shaw written in 1985, so I imagine they still teach energy management.
That said, I humbly defer to those who have more recent, actual involvement in these things...:)