Energy regulator Ofgem introduced a price cap on standard and default tariffs on 1 January 2019. On typical use, the cap is currently set at £1,137/year on average for a typical user – so someone with higher usage has a higher cap, or if you use less your cap will be lower.
In April, the cap will rise by 10%, to £1,254/year for someone with typical use, though we don’t yet know how individual suppliers will set their prices under this new level.
The level of the cap also varies depending on in which of the 14 energy ‘distribution’ regions across England, Scotland and Wales you live.
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.
Our comparison simply bases your savings as if the price stays at the current rate for the next year - so likely we are substantially underestimating as we know prices will go up for many suppliers when the cap increases in April. As soon as we get the new prices from a supplier, we’ll update them – even if it’s before the actual hike hits in April.
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?