New energy price cap level for April to June 2024 starts today
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From 1 April 2024, the price of energy for a typical household that uses gas and electricity and pays by Direct Debit will go down by £238. This will reduce the energy price cap from £1,928 to £1,690 per year, a reduction of around 12%. 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 April to 30 June 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 60.10 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 6.04 pence per kilowatt hour (kWh). The daily standard charge is 31.43 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 April 2024 to 30 June 2024 and 1 January to 31 March 2024.
You can also view and compare 1 January 2024 to 30 June 2024 energy price cap standing charges and unit rates by region.
Changes for prepayment meter or Direct Debit customers
From 1 April 2024 prepayment customers and Direct Debit customers covered by the price cap will pay the same standing charge, known as ‘levelisation’. This policy replaces current support through the Energy Price Guarantee which expired at the end of March 2024. The introduction of a levelisation allowance within the price cap will mean that Direct Debit customers will typically pay £10 more per year. However, prepayment customers will typically pay £49 per year less (or £52 per year less including VAT).
Other changes to help energy customers
From 1 April, the ban on short-term discounted tariffs intended to attract customers from other energy suppliers has been extended for another 12 months. This ban called the ‘ban on acquisition-tariffs’ has been in place since April 2022. We plan to ask for views and feedback about shortening the extension to six months. Additionally, from 1 April, the Market Stabilisation Charge – introduced in tandem with the BAT – will come to an end, meaning suppliers are no longer required to compensate a new customer’s previous supplier when they switch. Energy suppliers will now also have 5 days instead of 15 days to move you from your old energy supplier if you decide to switch to a new energy supplier. If they do not meet the 5 day deadline they will have to pay £30 in compensation to the customer.
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 July to 30 September 2024 will be published by 24 May 2024.