For three months from 1 January 2024, the following rates and charges will apply.
- Unit rate: 28.62p per kWh
- Standing charge: 53.35p per day
- Unit rate: 7.42p per kWh
- Standing charge: 29.60p per day
Does the energy price cap apply to me?
The price cap applies to you if:
- You’re on a default energy tariff, regardless of how you pay your bills.
A default energy tariff, according to Ofgem, is the most basic tariff an energy supplier offers. The most common type is a ‘standard variable’ tariff. This means the amount you pay is subject to price changes, although your supplier should write to you to confirm any changes with a notice period. A standard variable tariff can’t be higher than the price cap.
Energy suppliers have different names for their default tariffs. If you aren’t sure what tariff you’re on, your energy supplier will be able to tell you.
The price cap doesn’t apply to you if:
- You’re on a fixed-term energy tariff (ie a tariff with a fixed end date and agreed fixed per unit price).
- Your tariff is exempt from the price cap. For example, some green and special time of use tariffs.
If you’re not sure what tariff you’re on, check your energy bill or contact your energy supplier.
If your supplier has recently gone bust and you were moved to a new supplier, it’s likely you’re on a standard variable tariff.
Similarly, if you’ve come to the end of a fixed term contract, or are about to, it’s likely you’re on a standard variable tariff or will be moved to one.