Energy price cap. Price cap - What you need to know
Energy prices are rising in January. You could fix your rates and be protected against price rises. And, if we bring out an even better tariff – you can swap for free.
When will my prices change?
Electricity Key Meters
If you have a meter that you top up with a key at Payzone or Post Office, to get the new prices you need to top up on or after 1st October. Your meter will have the new prices once you've put the key back in your meter.
Pay as you go Smart meters
We know that some of our smart meters won't get the new prices no matter how much we try. If we can't fix yours after three months, we'll send you a cheque for anything you've been overcharged.
Smart Energy Monitors
Some Smart Energy Monitors (SEM) won't update with the new prices, so the estimated cost of energy they show will be wrong. Don't worry though, bills and direct debits will be charged on the new prices and we will keep trying to fix your SEM.
What you need to know
What's changing in energy prices?
Ofgem has announced an increase to the price cap from 1st January 2024.
We’ll be in touch to let you know your new rates and estimated annual costs.
What is the price cap?
The energy price cap is set by Ofgem every January, April, July and October. It places a maximum amount you'll pay per unit of energy you use, and the daily standing charge that covers the distribution cost of getting gas and electricity to your home.
The amount of energy you use at home determines how much you pay in bills.
When will my Direct Debit change?
Your Direct Debit amount does not adjust automatically when tariff prices change.
We regularly check your account to ensure that your payments are in line with the cost of your ongoing average energy use. If not, we'll get in touch with you to modify the amount so that your account doesn't go into debit.
What you can do to manage energy costs
New fixed tariff
Lock in your energy prices
We can offer our existing customers fixed tariffs so you get price certainty.
And, if we bring out an even better fixed deal in the months to come – you can swap for free.
Send us monthly meter reads for accurate bills
It takes just minutes using your app or online account.
We use your meter readings to create your bills. If we don't receive readings from you, the system will make estimates based on typical energy use, which could result in a higher bill than necessary.
Reduce your usage to save energy and money on bills.
The price cap limits the unit rates and standing charges, not your annual energy cost.
Here are some energy-saving steps you can take right away to improve the energy efficiency of your home without spending a penny.
If you're having trouble paying your bills
We don't want people to stop using electricity or heating their homes if you can't afford it. Please let us know if you find yourself needing financial support.
How do you work out my energy usage?
We calculate your estimated annual energy cost using your last 12 months' energy usage. We then multiply that by your current tariff unit rates and add the daily standing charge for the coming 12 months.
If we are unable to validate your usage figures for the last 12 months, we'll use Ofgem's national average consumption values to calculate the cost of your energy. A typical average household usage of 11,500 kWh of gas and 2,700 kWh of electricity in a year.1
The January 2024 price cap rates are based on a dual fuel customer with average consumption of 11,500 kWh for gas and 2,700 kWh for single-rate electricity.