For the first time since autumn 2022, your energy bill will soon be capped by the UK regulator Ofgem rather than the government’s emergency price guarantee. This means you should see a drop in your next bill.
From Saturday July 1 2023, Ofgem is lowering the price cap – which limits the amount your supplier can charge for a unit of electricity or gas if you are on a standard tariff – by 38% on gas (meaning the unit price for direct debit payers will drop from 13p to 8p) and 42% on electricity (down from 51p to 30p). These new prices are below the government’s emergency guarantee.
