https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ Every Ofgem default-tariff price cap period tracked on PlainEnergyBills, newest first — the real quarterly change history, not a summary. en-gb https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2026-q4 Wed, 26 Aug 2026 00:00:00 GMT Announced 26 August 2026, effective 1 October: the cap rises 4% on higher wholesale gas prices, which Ofgem attributes to the conflict in the Middle East. From 1 October 2026 to 31 March 2027 the government has removed VAT from electricity, so the electricity unit rate and standing charge here exclude VAT while gas still carries 5%; Ofgem notes the cap cannot be compared directly with earlier periods because of this. Figure shown on the pre-July TDCV basis (2,700 kWh elec / 11,500 kWh gas) for like-for-like comparison with earlier periods; Ofgem's own headline on its 2026 TDCV is £1,723, up from £1,663. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-october-and-31-december-2026 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2026-q3 Wed, 27 May 2026 00:00:00 GMT Announced 27 May 2026, effective 1 July: the cap rises 13% on a gas-driven wholesale jump, the largest quarterly increase since the 2022-23 crisis. Figure shown on the pre-July TDCV basis (2,700 kWh elec / 11,500 kWh gas) for like-for-like comparison; Ofgem cut its headline TDCV from 1 July 2026, so its new-basis headline is lower (~£1,663) without prices being lower. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-july-and-30-september-2026 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2026-q2 Tue, 24 Feb 2026 00:00:00 GMT Spring 2026 cap fell 7% (-£117) as wholesale gas eased after a mild winter left NW European storage well filled. Standing charges stayed near record highs on legacy supplier-failure recovery (SoLR) cost socialisation, so the saving came almost entirely from lower unit rates. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-april-and-30-june-2026 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2026-q1 Mon, 24 Nov 2025 00:00:00 GMT Q1 2026 cap was essentially flat (+0.2%) on stable winter wholesale prices, with a higher gas standing charge offset by a lower gas unit rate. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-january-and-31-march-2026 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2025-q4 Wed, 27 Aug 2025 00:00:00 GMT Q4 2025 cap rose 2% as winter gas storage was rebuilt and network charges ticked up. The wholesale element eased, but non-wholesale costs (network, policy, SoLR) lifted the headline figure. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-october-and-31-december-2025 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2025-q3 Fri, 23 May 2025 00:00:00 GMT Summer 2025 cap fell 7% as wholesale gas eased and storage refilled — the lowest cap since the 2022 energy crisis. Standing charges remained near record highs. Source: https://www.ofgem.gov.uk/news/changes-energy-price-cap-between-1-july-and-30-september-2025 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2025-q2 Tue, 25 Feb 2025 00:00:00 GMT Spring 2025 cap rose 6.4% on increased wholesale gas after cold European winter. Government extended targeted bill-rebate measures for prepayment customers. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-june-2025 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2025-q1 Fri, 22 Nov 2024 00:00:00 GMT Q1 2025 cap rose modestly on wholesale gas volatility around end of Russia-Ukraine gas transit agreement. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-january-31-march-2025 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2024-q4 Fri, 23 Aug 2024 00:00:00 GMT Q4 2024 cap rose 9.5% on resumed wholesale gas volatility, marking the first quarterly increase in a year. Government withdrew Energy Price Guarantee subsidy in March 2024. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-october-31-december-2024 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2024-q3 Fri, 24 May 2024 00:00:00 GMT Summer 2024 cap dropped to lowest level in over two years. Wholesale costs eased significantly compared to 2022-2023 peaks but standing charges remained elevated. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-july-30-september-2024 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2024-q2 Fri, 23 Feb 2024 00:00:00 GMT Spring 2024 cap fell 12.3% as wholesale gas continued to retreat from war-driven highs. Energy Price Guarantee withdrawn at start of period. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-june-2024 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2024-q1 Thu, 23 Nov 2023 00:00:00 GMT Q1 2024 cap rose 5% on winter wholesale demand. Government extended Cost of Living Payments for low-income households. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-january-31-march-2024 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2023-q4 Fri, 25 Aug 2023 00:00:00 GMT Q4 2023 cap fell sharply as wholesale gas continued descent from 2022 peaks. First quarter the cap returned below the Energy Price Guarantee threshold. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-october-31-december-2023 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2023-q3 Thu, 25 May 2023 00:00:00 GMT Q3 2023 cap fell 17% as wholesale gas eased significantly. Energy Price Guarantee ceased to be binding for first time since introduction. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-july-30-september-2023 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2023-q2 Mon, 27 Feb 2023 00:00:00 GMT Q2 2023 cap rose 21% but Energy Price Guarantee kept bills at £2,500 for typical use. Households paid the lower of cap or EPG figure. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-june-2023 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2023-q1 Thu, 24 Nov 2022 00:00:00 GMT Q1 2023 cap peaked above £4,000 for the first time. Energy Price Guarantee capped typical household bills at £2,500. Cold-weather payments and Cost of Living Payments deployed at scale. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-january-31-march-2023 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2022-q4 Fri, 26 Aug 2022 00:00:00 GMT Q4 2022 cap rose 80% to peak post-invasion levels. UK Government introduced Energy Price Guarantee (EPG) capping typical bills at £2,500 (later £3,000). Direct payments of £400 issued to all households. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-october-31-december-2022 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2022-q2-q3 Thu, 03 Feb 2022 00:00:00 GMT April 2022 cap rose 54% — largest single increase in history — following Russian invasion of Ukraine and resulting European gas crisis. 30+ suppliers failed during 2021-2022, costs socialised via SoLR levy. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-september-2022 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2021-q4 Fri, 06 Aug 2021 00:00:00 GMT Oct 2021 cap rose 12% on early signs of wholesale gas tightness as European storage fell post-COVID. First of many supplier failures began this period (Bulb largest in Nov 2021). Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-october-2021-31-march-2022 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2021-q2-q3 Fri, 05 Feb 2021 00:00:00 GMT Spring 2021 cap rose 9% as wholesale gas began climbing post-COVID lockdowns. Last cap period before the European gas crisis took hold. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-september-2021 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2020-q4 Fri, 07 Aug 2020 00:00:00 GMT Pandemic-low wholesale gas and electricity prices delivered the lowest default tariff cap since the cap began. Typical dual fuel household paid roughly twenty pounds per week. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-october-2020-31-march-2021 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2020-q2-q3 Fri, 07 Feb 2020 00:00:00 GMT COVID-19 lockdowns collapsed industrial gas demand globally. Cap held roughly steady while market wholesale prices plunged. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-september-2020 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2019-q2-q3 Thu, 07 Feb 2019 00:00:00 GMT First full year of the default tariff cap. Cap rose 10% from launch on wholesale recovery. Around 11 million households on standard variable tariffs benefited from cap protection. Source: https://www.ofgem.gov.uk/decision/decision-default-tariff-cap-level-1-april-30-september-2019 https://plainenergybills.co.uk/guides/understanding-the-ofgem-price-cap/ https://plainenergybills.co.uk/feed/price-cap-history.xml#2019-q1 Tue, 06 Nov 2018 00:00:00 GMT Default tariff cap launched 1 January 2019 under the Domestic Gas and Electricity (Tariff Cap) Act 2018, replacing the prepayment-meter-only cap with universal SVT protection. Source: https://www.ofgem.gov.uk/publications/decision-default-tariff-cap-level