What is the price cap and how will it affect me.
What is the price cap?
The price cap was introduced to protect customers who are on the default tariff with their energy supplier, or on a tariff with standard variable rates. This is all managed by Ofgem who set the cap limit on the cost of electricity and gas, and became effective from 1 April 2017 for prepayment customers and from 1 January 2019 for customers paying by Direct Debit or on Receipt of Bill.
When do the energy prices change?
The electricity and gas prices are updated every April and October to reflect the changes in industry costs. This includes wholesale, policy and network costs.
How does the price cap affect me?
This year, due to increasing energy costs, the price of your electricity and gas will be going up from the 1 April 2021. If you're on our variable or default tariff then you'll end up paying more for your energy. Why not take this opportunity to feel-good about your energy and switch to a fixed tariff and see how much you could save?