From 1st October 2023 until 31st December 2023 Ofgem has announced a fall in the energy price cap. This means the typical annual household bill will be around £1,834 a year. This is a fall from the current £2074 price cap.
The energy price cap is represented as an annual bill based upon 2900kWh of electricity and 12000kWh of gas usage per year. However, most households are unlikely to be on a typical usage and the actual cost will vary depending on your consumption. Many households in Scotland are likely to have higher typical usage.
What the price cap actually is: a cap on the tariff suppliers are able to charge you. This is the Unit Rate, a cost per kWh of energy you use and a daily standing charge.
From 1st October the average tariff in the UK will be:
Please note costs can vary on region and may vary slightly from what is represented below
26.88p per kWh unit rate
62.10p per day standing charge
6.84p per kWh unit rate
29.62p per day standing charge
26.45p per kWh unit rate
68.97p per day standing charge
6.62p per kWh unit rate
40.45p per day standing charge
28.3p per kWh unit rate
69.23p per day standing charge
7.21p per kWh unit rate
34.99p per day standing charge
For further details on the changes in the energy price cap, please visit the Ofgem announcement page.
Comparison to last Winter
While there has been a fall in the energy price cap, our energy costs are still significantly higher than prices we paid 2 years ago for our energy.
Most households are unlikely to see any significant change to what they were paying for their energy last winter. This is because the £400 Energy Bill Support Scheme, paid out as a £66 monthly payment last winter, is not returning this year.
What support is available
Some people may receive some support from the Government in the form of Cost of Living Payments to help with the higher cost of living. Visit our energy advice guide for more information on these.
Applications for the Warm Home Discount will be opening soon. Check if you’re eligible in our guide here.
Now is the time to get your home ready for Winter. Our energy advisors can provide free and impartial advice to anyone in Fife. Get in touch to arrange a home visit or telephone advice appointment to see what you can do to prepare for winter.
Our energy advisors can be contacted by: