New energy price cap level for October to December 2024 starts today
News
- Dyddiad cyhoeddi
- Sector diwydiant
- Supply and Retail Market
From today, 1 October 2024, the energy price cap for a typical household that uses gas and electricity and pays by Direct Debit will go up from £1,568 to £1,717 per year. This is an increase of around 10% which adds around £12 a month to an average bill.
The energy price cap sets the maximum amount that energy suppliers can charge for each unit of energy and standing charge. This is calculated based on typical energy use for households using gas and electricity.
If you use more than the typical household your bill will be higher, and if you use less, it will be lower. The amount you pay can also vary depending on where you live, the type of meter you have and your payment method.
Energy price cap rates 1 October to 31 December 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 24.50 pence per kilowatt hour (kWh). The daily standing charge is 60.99 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 6.24 pence per kilowatt hour (kWh). The daily standing charge is 31.66 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 July to 30 September 2024 to 1 October to 31 December 2024.
You can also view and compare energy price cap standing charges and unit rates by region for 1 July to 30 September 2024 to 1 October to 31 December 2024.
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 January to 31 March 2025 will be published by 25 November 2024.