Energy price cap. Price cap - What you need to know

Good news! On 1st April the price cap will fall. We’ll be in touch to let you know what this means for you. If you still haven't chosen a fixed tariff, you can beat the current and next price cap rates with our Price Promise tariff.

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Pay on receipt

The January 2024 rates

The table below shows the new price cap rates for pay on receipt payments. The rates you pay will differ by region so see the exact rates you'll pay on standard variable tariff enter your postcode and the rates will appear.

View price cap rates

January 2024 price cap rates

Gas standing charge
34.969p
Gas unit rate
7.807p
Electricity standing charge
60.008p
Electricity unit rate
30.124p
Direct Debit

The table below shows the new price cap rates for Direct Debit payments. The rates you pay will differ by region so see the exact rates you'll pay on standard variable tariff enter your postcode and the rates will appear.

View price cap rates

January 2024 price cap rates

Gas standing charge
29.599p
Gas unit rate
7.417p
Electricity standing charge
53.346p
Electricity unit rate
28.616p
Pay As You Go

The table below shows the new price cap rates for Pay As You Go payments. The rates you pay will differ by region so see the exact rates you'll pay on standard variable tariff enter your postcode and the rates will appear.

View price cap rates

January 2024 price cap rates

Gas standing charge
33.308p
Gas unit rate
7.231p
Electricity standing charge
55.506p
Electricity unit rate
28.164p

What you need to know

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.

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.

Send meter readings

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.

Changes to Direct Debit

When will my prepay meter 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 April. 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 can do to manage energy costs

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.

Energy saving tips

New fixed tariff Lock in your energy prices

Avoid higher bills and start saving with our Price Promise tariff - you'll save more compared to the current price cap.

Also, if Ofgem lowers the price cap below our tariff in April, we'll reduce your prices.

Log in to change tariff

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.

Help managing bills

  1. Price Promise Tariff is a fixed tariff with a difference. As the Ofgem April price cap is lower than this tariff, we'll automatically reduce your prices. So, your annual energy costs from 1st April 2024 will be at least £1 per fuel lower than they would be if based on the April 2024 price cap. Eligibility and terms and conditions apply.