UK Energy Price Tracker 2026

The Ofgem energy price cap limits the maximum amount suppliers can charge per unit of gas and electricity and for daily standing charges. It applies to customers on default or standard variable tariffs and is expressed as an annual figure for a typical dual-fuel household. As of Q3 2026, the cap stands at £1,695 per year.

Since January 2023, the price cap changes every three months — in January, April, July, and October. Ofgem announces each new cap roughly two months before it takes effect. Before 2023, the cap was reviewed every six months.

Under the Q3 2026 price cap, a typical dual-fuel household pays around £1,695 per year, or approximately £141 per month. The split is roughly £90 for electricity and £51 for gas on average, though costs vary by region, property size, and usage patterns.

The Q3 2026 cap dropped slightly to £1,695 from £1,738 in Q1 2026 — a reduction of around 2.5%. Wholesale gas prices have stabilised but remain well above pre-2021 levels. Most analysts expect the cap to hover between £1,650 and £1,800 through the remainder of 2026.

Start with a free bill audit to check you are on the best available tariff — many households overpay simply by staying on their supplier's default rate. Beyond switching, practical steps include improving insulation, using a smart thermostat, switching to LED lighting, and running appliances during off-peak hours on a time-of-use tariff. SaveFirst's free 2-minute audit typically saves households £56 per month.