Energy regulator Ofgem is introducing a price cap on standard and default tariffs on 1 January 2019. On typical use, the cap is set at £1,137/year on average – so someone with higher usage has a higher cap, or if you use less your cap will be lower.
The level of the cap also varies depending on which of the 14 energy ‘distribution’ regions across England, Scotland and Wales that you live in.
The cap is set to be reviewed every 6 months and adjusted on 1 April and 1 October each year. We know that in April it is likely to rise, possibly to as high as £1,250/yr.
The big question is what price comparison sites, including our Cheap Energy Club, should use as a base so we can see how much you'll save.
Of the big six, British Gas, E.on, Npower and SSE have gone live with their post-cap prices. If you're with one of these providers, our comparison bases your savings as if the price stays at this rate for the next year (so likely we are substantially underestimating).
However, with the majority of suppliers, we assume their current standard price remains so we're probably slightly overestimating (but not by much).
Do your figures include VAT?
How does the comparison calculator work?
Do you factor Ofgem's price cap in to my results?
How does energy switching work?
I've called the supplier and it knows nothing about the switch
When will I get my cashback?
How do I update my usage or tariff details on my Cheap Energy Club account?