Updated on 19/08/25 by Ben_OVO:
Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. Find out how it works – and how it affects your prices with our price cap guide.
You can also see the latest information regarding the price cap levels and date changes on the Ofgem site here.
When I wrote “The change in an individual household’s bill will vary considerably, depending on where it is located and how much energy it consumes,” I over-simplified the case. There are several other factors involved, so if any of these apply in your case, all bets are off …
- The price change only applies to those on the standard variable tariff. Whether prices on fixed-rate plans go down or not is up to the supplier.
- The cap varies with the payment method; the amounts quoted are for users paying by monthly direct debit. In particular, the standing charge is significantly higher for users on pre-payment gas meters, and rates for users who choose to pay on receipt of bill are also quite a bit higher.
- Official rates are given ex VAT. Depending on where you look, rates may or may not include VAT, but this should be made clear on the page.
You can see the current official price-cap unit rates and standing charges on this page: Energy Price Guarantee (prepayment meters): regional rates, July to September 2023 - GOV.UK. Jeffus posted a more comprehensive table, where prices are given including VAT: CBP-9714.pdf (parliament.uk)
It might help if you posted a screenshot of your Plan page so we can see whether anything looks strange.