Energy Price Cap Reduces Again From 1 July 2024

24th May 2024

Between 1 July to 30 September 2024 the energy price cap is set at £1,568 per year for a typical household who use electricity and gas and pay by Direct Debit. This is £122 lower than the cap set between 1 April to 30 June 2024 (£1,690).

The price cap is based on typical household energy use. Read how typical household energy use is worked out in our Average gas and electricity usage guidance.

The price cap also makes sure that prices for people on a standard variable tariff (default tariff) are fair and that they reflect the cost of energy.

You are covered by the price cap if you pay for your electricity and gas by either:

standard credit (payment made when you get your electricity and gas bill)
Direct Debit
prepayment meter
Economy 7 (E7) meter

For full details of all the changes go to https://www.ofgem.gov.uk/energy-price-cap