Ofgem's Energy Price Cap will be changing to £1,928 from 1st January 2024. This means your prices will be changing but don't worry, we will be in touch with all the details and your individual prices in the coming days.
We know that the regular changes to the Energy Price Cap may be causing unnecessary stress for consumers, so to help you feel more at ease we have answered the most frequently asked questions below.
To make sure we stay true to our word and remain a reliable energy supplier, we post all energy prices for every area that we supply in the UK. No other energy supplier will share this information.
That's because we want you to understand your prices and why they may be different in each region. So, why not have a look at the attachments below to see what the energy prices are for your area:
Fox Standard Dual - Click to download here
Fox Standard Elec - Click to download here
Fox Standard Gas - Click to download here
Payment on Bill:
Fox Paper Standard Dual - Click to download here
Fox Paper Standard Elec - Click to download here
Fox Paper Standard Gas - Click to download here
You may have some questions about why there are varying prices for different areas of the UK. These costs are used to recover the costs required to provide energy company services, including providing and maintaining the wires, pipes and cables that deliver power to a customer’s door, through to the staff and buildings required for the energy business to function.
Energy prices vary from region to region because of the differing costs in supplying energy to a particular area.
The Price Cap was introduced by the energy regulator, Ofgem, to prevent skyrocketing wholesale costs being pushed onto UK consumers back in 2019. It will change to £1,928 on 1st January 2024.
The Cap is reviewed by the regulator every three months to make sure the cap reflects the up-to-date price of energy as well as inflation. It is mainly based on wholesale energy prices but also includes operating costs such as billing, installing smart meters, government initiatives and maintenance of pipes that transport gas and electricity to your home (network costs).
Getting through the winter can be a difficult time for people who are struggling to pay for the energy they use, that's why we are working hard to make the situation a little easier this year.
OTM's Extra Efforts:
As a customer-focused energy supplier, we are determined to make sure our customers get the best price for their energy and can have access to all the support available at the click of a button.
Get Ready for Winter Campaign
Our partnership with Scope has seen us launch the 'Get Ready For Winter' campaign to help our most vulnerable customers get the support they are entitled to. It ranges from our Priority Service Register to financial benefits checkers to see if you are missing out on any benefits or grants you may be entitled to.
Pocket Power Savings
We are taking part in the Demand Flexibility Service. All eligible customers have been invited to join the service under the name POCKET POWER SAVINGS. The service, which was introduced by ESO's National Grid, rewards customers for reducing their consumption during peak times. We anticipate a minimum of 12 events taking place between November 2023 and March 2024, with the chance for even more savings to be bagged through impromptu live events.
Our prices are still one of the cheapest on the market. The decision to add extra reductions to your unit rates and standing charges means customers paying by Direct Debit will be on one of the cheapest tariffs in the country!
Warm Home Discount (WHD) provides a one-off £150 payment to low-income customers. You do not need to apply if you live in the UK and Wales as it will be automatically added to your energy account. If you qualify, you will have received a letter with more information. If you live in Scotland, you will need to apply by clicking here.
Great British Insulation Scheme (GBIS) offers customers who are on benefits or struggling financially the opportunity to get partially or fully funded insulation in their home. This initiative is to help people who may find themselves in a vulnerable position. If you think you may be eligible, you can read more and apply here.
We are contacting you with your individual prices so keep an eye out for an email from us in early December.
You won't need to do anything, your prices will be changed automatically and if we need to change your payments, we will be in touch about your Direct Debit separately.
We are also updating your smart meters and IHDs to show the updated information. We kindly ask you do not contact us until after the 1st February 2024 as we do require some time to complete this.
If you have any questions about the price change, you can get in touch with our customer service team by clicking the icons below:
Our friendly customer service team will be more than happy to help you with any queries you have Monday-Friday 08:30-17:00 and Saturday 09:00-14:00.
Submitting meter readings is very important to make sure that you get charged the right amount for your energy.
You should submit meter readings to us between 26th December 2023 and 1st January 2024.
If you have a smart meter, you do not need to submit your meter readings as they will be sent to us automatically. It is always a good idea to monitor your energy account to make sure we are still receiving your meter readings as usual.
Smart meters have revolutionised the way we use energy. They have helped millions across the UK get access to better tariff take control of their energy and even earn money from them!
Want a smart meter? You can find out more about smart meters and how to get one installed here.
Whilst energy prices are not as volatile as they were a year ago, we understand that they are still high. That's why we are committed to giving you access to all the support available if you are struggling financially or cannot pay for the energy you use.
We have a dedicated section on our FAQs for all the support we offer as well as other organisations who can provide free, confidential and impartial advice.
Please use the icons below to see what energy or financial support is available.
All of the above organisations can help and advise on what to do if you are struggling to pay for your energy bills during the cold snap where typically more energy will be consumed.
One of the best ways to lower bills and make energy more affordable is to make your home as energy efficient as possible. There are lots of ways to do this but our favourites are can be found above! You can also switch to LED lightbulbs, switch out your tumble dryer for a clothes airer, turn down radiators in rooms you don't use frequently and swap out baths for short showers!
If you still have more questions about the price change that haven't been answered in the email, PDF attachment or in this FAQ, you can get in touch with our friendly team of energy specialists who will be more than happy to help.
If you think your situation has changed or you are struggling to pay for your energy, it is important you contact us so we can make arrangements for your bills and provide you with support you may be eligible for.