New energy price cap level for January to March 2024 starts today
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From today 1 January 2024 the price for energy a typical household who use gas and electricity and pay by Direct Debit will go up by £94. This will take the energy price cap from £1,834 to £1,928 per year.
The amount you pay will depend on how much energy your household uses, where you live and the type of meter you have.
Energy price cap rates 1 January to 31 March 2024
Electricity rates
If you are on a standard variable tariff (default tariff) and pay for your electricity by Direct Debit, you will pay on average 28.62 pence per kilowatt hour (kWh). The daily standing charge is 53.35 pence per day. This is based on the average across England, Scotland and Wales and includes VAT.
Gas rates
If you are on a standard variable tariff (default tariff) and pay for your gas by Direct Debit, you will pay on average 7.42 pence per kilowatt hour (kWh). The daily standard charge is 29.60 pence per day. This is based on the average across England, Scotland and Wales and includes VAT.
View and compare the Energy price cap levels from 1 January to 31 March 2024 and 1 October to 31 December 2023.
You can also view and compare 1 October 2023 to 31 March 2024 energy price cap standing charges and unit rates by region.
Next review
We review and set a level on how much an energy supplier can charge for each unit of energy including the standing charge every three months. The levels for the period 1 April to 30 June 2024 will be published by 23 February 2024.