How does the Energy Price Guarantee affect my tariff prices?

The government's Energy Price Guarantee was introduced in 2022 to help reduce the impact of increasing energy costs. It discounts the unit rates for energy on variable and some fixed tariffs.

From 1 July 2023, households without prepayment meters will no longer qualify for any Energy Price Guarantee discount on their energy bills. 

What does this mean for my tariff prices?

As the Ofgem price cap rate is lower than the Energy Price Guarantee level no discounts will be applied to customers who pay by cash, cheque or Direct Debit. The discount will only apply to customers paying by prepayment or smart Pay As You Go. 

If you are on a variable tariff you will return to paying the rate set by Ofgem's price cap, if you are on a fixed tariff and previously received a discount you will now revert to the rates you initially agreed when choosing your tariff. 

If you're affected by these changes we will be contacting you with updates on what this means for you, you can also also view our table as a guide to what is happening.

How do I know what prices I'm paying?

You can check the price you pay on your Tariff Information Label (go to Tariff Details in MyAccount).

If you're not registered for MyAccount, you can either sign up or find your Tariff Information Label on our website. You'll need your postcode, tariff name, payment method and meter type to hand.

Find the latest information on the new Ofgem Default Tariff cap rates

Can my energy bill be higher than the Energy Price Guarantee?

Yes, your energy bill for the year can be higher – or lower – than the Energy Price Guarantee. This is because the size of your bill depends on how much energy you use.(1)

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  1. Ofgem estimates the typical household in Britain uses 2,900 kWh of electricity, 12,000 kWh of gas or 4,200 kWh for E7 annually. Find out more about how Ofgem works out the typical use for the energy price cap.

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