- What's the latest update on Ofgem's price cap?
- What is Ofgem's energy price cap, and how it's calculated?
- Which EDF customers are impacted by the price cap?
- View the latest price cap prices for your area
Our latest update on Ofgem's price cap and what this means for our customers
On 1 October, the overall price cap for an average household [caveat;typical-use] will decrease from £2,074 to £1,923. The best part is that you don't need to do anything because the change to your prices will be applied automatically. Read Ofgem’s press release.
What does this mean for our prepayment or smart PAYG customers?
Customers with a prepayment or smart PAYG meter will receive a discount through the Energy Price Guarantee. This ensures that you won't pay more than customers who pay by Direct Debit. The discount will now be applied to your electricity and gas standing charges rather than the unit rates as it was before. You don't have to worry about missing out on this discount, as it's applied automatically.
What does this mean for our Direct Debit customers?
We recommend that customers paying via Budget Direct Debit avoid making changes before their payment review. Your payment will be adjusted to reflect any price changes, credits, or outstanding debts during your next review. Changing your Direct Debit amount before then may result in debt.
Helping customers who are struggling to pay their energy bills
We appreciate that many customers are worried about getting into debt, with energy prices still higher than before the energy crisis. We're here to help! Use our help centre for lots of advice on how we can help you through this time.
What is the energy price cap?
Ofgem, the UK's energy regulator, introduced the price cap in 2019. The energy price cap limits your rates for each gas and electricity unit. However, it doesn't set your monthly bill, so your monthly bills will increase if you use more energy. The price cap is currently reviewed every three months, and Ofgem then decides what the new price cap will be set at.
How is the price cap calculated?
The Ofgem price cap is based on the costs it makes up to supply your energy. The largest of the costs that make up your bill are wholesale costs, and these costs can change the most. As a result, your bills can go up or down depending on the current energy market conditions at the time.
Costs included in the Ofgem price cap prices
Wholesale costs. Our gas and electricity costs are determined by the prices on the wholesale markets in the UK, which in turn reflect global commodity markets. As with things like petrol, the cost of energy goes up and down with global availability and demand
Network costs. We don't own the electricity wires or gas pipes the energy flows through, so we must pay the companies that do. This money goes towards maintaining, running and upgrading the networks
Policy costs. As Britain’s biggest generator of zero carbon electricity, we've never been busier helping cut UK carbon emissions to nothing. We also support the government in funding renewable energy and helping vulnerable customers. A wide range of organisations has recognised our efforts to be a more sustainable and responsible energy supplier
Operating costs. These costs cover running our call centres, sending your bills and reading your meters. We’re always looking for new ways to keep these costs as low as possible. For example, MyAccount and our mobile app, which lets you view and pay bills, send us meter readings or amend your Direct Debit details – all online
VAT. The UK government sets this at 5% on all home energy bills
Which EDF customers are impacted by any change in Ofgem's price cap?
The price cap applies to any EDF customers on a variable tariff. This means that customers on any of the tariffs below will have their prices reviewed every three months by Ofgem and may either see a decrease in price or an increase depending on many different factors we've listed above.
EDF's variable tariffs are as follows
Customers with either standard, prepayment, smart Pay As You Go, E7 meters and complex meters
- Standard (Variable)
- Welcome
- Deemed
- Safeguard Assist
Worried about future price rises?
If you're on a standard tariff, consider fixing your prices for peace of mind. Log in to MyAccount to check for better energy deals. View available fixed deals.
Rate cards showing the new cap prices
Direct Debit and Cash/Cheque prices are the Ofgem Default Tariff cap rates. Smart PAYG and prepayment prices are the rates before applying EPG discounts. These prices are inclusive of VAT charged at 5% and rounded. Prices are effective from 1 October 2023.
Standard (Variable) rate cards
Standard (Variable), Deemed and Welcome rate card. For customers with complex meters (including smart PAYG)
Safeguard Assist rate cards
For customers with standard, E7 meters, smart PAYG and prepayment meters
We can help you take control – to use less and spend less
We’re here to help you become even more energy-efficient:
Not got a smart meter yet? Book your smart meter installation today to better understand your energy usage
Once your smart meter is installed, you can join our Energy Hub. It's a really cool tool that helps you keep track of your energy usage and even lower your bills. Lots of our customers use it and have saved money, so we definitely recommend signing up and creating your profile. Don't miss out on all the benefits!
Check out our energy-saving tips. Some of these are easy to do and completely free
Our ECO scheme helps customers on a low income install a package of free energy-saving measures to help customers improve their Energy Performance Certificate. See if you're eligible and apply.
Make sure you're on the best payment plan. Customers who pay by Direct Debit or smart Pay As You Go tend to be the cheapest
Please don’t keep quiet if you’re struggling to pay your energy bills
We appreciate that many customers continue to struggle with higher prices than before the energy crisis. There are lots of ways we can help. Like setting up a payment plan or helping you work out if you can get benefits, you may not know about.
The first and most important thing to do is tell us you can't pay your energy bills. The sooner you talk to us, the quicker we can help.
Call our debt helpline on 0333 009 6992(1). They're open Monday to Friday: 8 am-6 pm. Our team can ensure you get the right support for your needs and circumstances.
We've also teamed up with Citizens Advice Plymouth so you can get free, independent energy advice. The team can help you manage debt and reduce your energy costs. Go to their website or call them on 0808 156 6666 (Monday to Thursday 9am-5pm or Friday 9am-4.30pm).
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