For up to date information about the current price cap please head to our website. Or check out this helpful FAQ to find out more about how this may impact you and what support is available:
Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. You can see the latest information regarding the price cap levels and date changes on the Ofgem site here.
The way energy suppliers set prices is impacted by:
The price cap – set by Ofgem, the energy regulator. This limits the amount customers on variable rate plans will pay for each unit of gas and electricity and sets a maximum standing charge.
The Energy Price Guarantee – provided by the government to help households with energy costs during the energy crisis. It’s a discount on gas and electricity prices and is in addition to the price cap. It applies to both variable and fixed rate plans. If the Energy Price Guarantee (EPG) is above the level of the price cap, it won’t impact prices for anyone who pays monthly.
What this means if you pay monthly for your energy
If you're on a variable rate plan, your unit rate and standing charge will change on 1st January, April, July and October, in line with the new price cap. We’ll write to you to let you know if this impacts you personally. Your actual bills will still depend on how much energy your home uses.
If you're on a fixed rate plan, the price cap doesn't affect prices for fixed-rate plans. We're keeping your prices as they are for the length of your contract to protect you from any price increases.
What this means if you Pay As You Go for your energy
All Pay As You Go prices are variable – these will change with the new price cap on 1st January, April, July and October.
Gas
Customers will receive an additional discount on their gas unit rate through the Energy Price Guarantee (EPG) so that most customers will pay less than Pay Monthly customers.
This discount will be reviewed every 3 months. You don't need to apply, and there is no need to contact us – the discount is applied automatically.
Electricity
Electricity prices on Pay As You Go mean that most customers will already pay less than the equivalent for Pay Monthly.
You can also check out more information on the Price Cap set by Ofgem, here.
