The energy regulator, Ofgem, has announced the newest energy price cap which will fall to £1,690 from 1st April 2024. This is the lowest the cap has fallen in two years.
We know it is important to be transparent when it comes to energy prices which is why we have published all of our prices for each of our tariffs. Please click on the files below to see the new prices for each tariff, broken down by region.
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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.
The energy price cap makes sure that the price people pay for the energy they use is fair and covers the costs to supply that energy, such as improvements to customers service. The cap also means that when all costs included in the cap go up, the level of the cap goes up. This is so that energy suppliers can recover these costs to reduce the risk of them going bust. When costs go down, the level of the cap also goes down. You can read more about the energy price cap policy here.
The cap will be reducing to its lowest amount in two years, falling to £1,690 for a household with typical annual consumption and paying by Direct Debit.
The cap 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).
The energy price cap has reduced, however, you may still see an increase to your total bill. This will be dependent on the amount of energy you use.
Prices change every three months after the release of a new price cap. It is important to remember that if your usage increases, your costs will do the same.
The price cap will be reviewed before July which may mean your prices change again at that point.
Yes! The price you pay for energy does depend on your chosen payment method. So, what is the best way to pay for your energy?
Direct Debit:
Direct Debit is our most common payment method, with over 90% of our customers paying this way. It gives you the ability to pay for your energy in manageable, monthly chunks and is equally set so you never build up too much credit or fall into debit over the months of higher usage. To learn more about paying by Direct Debit, visit our FAQs here.
Payment on receipt of bill:
Payment on receipt of bill is when you pay for the energy you have used over a period of time. This can vary from two weeks to every three months. If this is the payment method you prefer, you will unfortunately be paying more for your energy than you need to. You will also lose access to cheaper energy deals as your energy prices will be at the maximum they can be.
To switch to Direct Debit payments, get in touch with our energy specialists via live chat, email or phone who will get you moved over right away.
Making the decision to switch energy tariffs can be difficult, especially if you don't know what prices could be in three months time. That's why we will break it down below so you can find out what deal suits you best.
It is always important to stay up to date with energy prices so you know you are getting the best deal you can. You can check your bill to see what energy deals we have that could save you more money.
Submitting meter readings regularly is extremely important. We never want to charge you more than we need to, however, without up to date meter readings, you may be charged for more or less energy than you have actually used.
We kindly ask that you take a meter reading on 31/03/2024 and provide it to us no later than 03/04/2024.
If you have a connected smart meter, your reading(s) will reach us automatically for the price change date and monthly bill period.
If you have a traditional meter, you will be required to submit meter readings for the price change date in the above time frame and once a month for accurate billing.
Reading your meter - This will need to be done manually by looking at the numbers on your meter screen and submitting these via our website or app. You can find more information on how to read your meters here.
It is always a good idea to take photos of your meter reads for record keeping. You can submit meter readings quickly and easily here.
The current rollout of smart meters is revolutionising the way households manage their energy. With automatic meter readings that are pinpoint-accurate, you won't need to submit them manually. They also give you a better understanding of your usage to help you make more informed decisions about your energy consumption.
Check below for some more benefits smart meters can offer you:
Even though the recent news of lower energy prices is welcomed, we know they are still high. That's why we are committed to giving you access to all 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 help we offer as well as other organisations who can provide free, confidential and impartial advice.
Click on the icons below to find out more about what energy and financial support is available to you:
If you still have more questions about the price change that have not been answered in our email, PDF attachment or in this FAQ, you can get in touch with our friendly energy specialists who will be more than happy to help.
If your circumstances have changed or you are struggling to pay for the energy you use, it is important you contact us so we can make arrangements for your bills and provide you with personalised support.
Click on the icons below to get in touch: