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Compare energy prices

Is it time to switch energy?

The price cap is set at £1,928 until 31 March 2024. If you’re on a standard variable tariff, it’s likely your bills are high right now, so it’s worth assessing your options. Run an energy comparison to see deals that are currently available.

Should I switch energy now?

With fixed deals returning to the market, you may be able to switch energy. As of 6 February 2024, the potential average savings you may see against the price cap are about the highest they've been for about two years. The price cap is predicted to decrease further from April, so it's hard to predict whether fixing now or sticking with a standard variable tariff will save you money in the long run.

If you can't see a deal that's right for you yet, make sure you sign up to be switch-ready and hear about our exclusive flash energy offers.

Be the first to know about new energy deals

We've recently offered our switch-ready customers exclusive fixed deals from big suppliers such as EDF and British Gas.
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What should I consider when choosing a fixed energy deal?

  • Do consider exit fees. You may change your mind about your fixed deal and want to switch again. But if this happens after your cooling-off period, you might have to pay an exit fee. Not all tariffs have exit fees but most do, so make sure to check the terms of your current tariff. 

  • Do consider the length of the deal. Most tariffs last for 12 or 24 months. During this time the price cap could rise or fall based on market conditions, so consider how long you would like to stay locked in for.

  • Do stay informed. Keep a close eye on the market and run regular comparisons to see what deals are on offer. If you sign up for alerts, you can stay close to what’s happening in the energy market and find out when a good deal comes along.

  • Don’t get a deal you can't afford. Make sure you can afford the deal you choose and don’t rush into one that you'll struggle to pay for. 

  • Don’t just look at the direct debit amount. The price you pay through Direct Debit each month is usually based on your estimated energy usage over a year. This may not be the actual cost. Make sure you look at the unit rate and standing charge to work out how much you will be charged for your energy usage. You can also see how it differs from what you’re paying now.
    Find out more about fixing your energy deal here.

What is the energy price cap?

The energy price cap is a limit on the unit rates and standing charges that energy suppliers can charge for their standard variable tariffs. The cap is set by the UK’s energy regulator, Ofgem, four times a year.

From 1 January to 31 March 2024, the price cap level is set at £1,928.

The cap applies to unit rates - that's the actual price that’s changing. But to more clearly report it to customers, the annual figure is based on an average use dual fuel customer paying by direct debit. Always remember that you could pay more than the cap if you live in a bigger house or use more energy. You could also pay less if you use less.

Why are energy prices so high?

Wholesale gas prices significantly increased in September 2021. This was a result of various factors putting pressure on supply and demand. This meant there was a knock-on increase to customers’ energy prices, which also increased.

As a result, Ofgem announced that the energy price cap would rise to £3,549 per year for an average use home paying by direct debit in October 2022. It then rose again to £4,279 per year.

To combat the financial pressure that such high bills would put on households, the government launched the Energy Price Guarantee. This froze energy prices at £2,500.

The price cap, which continued in the background, fell to £3,280 in April 2023 and then to £2,074 in July. This meant the Energy Price Guarantee was no longer being used and the price cap came into effect again. The price cap level fell again to £1,834 in October 2023, though it then rose to £1,928 for the period from 1 January to 31 March 2024.

How to compare energy prices

Energy deals are starting to return to the market as the market settles down. It's worth brushing up on how the process of comparing energy prices and switching energy works.

How to compare energy suppliers

If you’re looking to switch energy, think about what’s most important to you in a new supplier when running an energy comparison. You can then choose the one that ticks those boxes - but make sure the deal it’s offering works for you as well.

Our customers are our priority. Here's what they're saying about the Uswitch energy switching service.

"First decent offer of a fixed price deal for a long time and the process took less than 5mins, could not have been easier."

- David Barr, Uswitch customer (23 January 2024)


Will energy prices go up or down in the next few months?

It's difficult to predict what will happen to energy prices in the next few months. Cornwall Insight, the energy analyst, says that the next price cap could drop as low as £1,635. This would be the lowest price cap for two years. The situation could change quickly, though, so keep an eye on market news if you're thinking of switching.

You can see the latest predictions below.

Price cap levelAnnual energy cost for an average usage medium-sized household paying by Direct Debit
1 July to 30 September 2023£1,976
1 October to 31 December 2023£1,834
1 January to 31 March 2024£1,928
Predicted energy price cap (1 April to 30 June 2024)£1,635
Predicted energy price cap (1 July to 30 September 2024)£1,465
Predicted energy price cap (1 October to 31 December 2024)£1,524
Ben author image new
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Fixed deals are starting to return to the market but, if you're interested in signing up to one, it's important to check all the details before you commit. When you compare energy with Uswitch you can see all the information you need to judge whether a new deal could work for you, including unit rates, standing charges and exit fees.”

Ben Gallizzi - Uswitch Energy Expert

How can I save energy and manage my bills?

Control your energy with our free app, Utrack

If you’ve got a smart meter, Utrack is a free mobile app that connects to your smart meter and can help you track your energy usage. It will also show you ways to use less energy to make managing your bills easier. Uswitch research shows that bad energy habits can add over £200 to annual energy bills, so this is especially vital when energy prices are high.

You can get:

  • Detailed insights about your home’s energy usage

  • Daily, weekly, monthly and yearly reports and data

  • Energy-saving tips and advice.

Utrack screenshot

What energy help can I get?

If you’re struggling with your energy bills, there is help available. At the very least, energy suppliers are required to have plans in place to help customers who need it. These could include reducing or waiving payments for a while or switching over to a prepayment meter.

The normal winter discount schemes - the Warm Home Discount, Winter Fuel Payment and Cold Weather Payment - all continue to operate.

The government also announced a package of relief measures designed to help the most vulnerable.

These include:

  • £900 for those on certain means-tested benefits to be paid in spring 2023, autumn 2023 and spring 2024

  • £300 for pensioners (in addition to the Winter Fuel Payment) to be paid in winter 2023-24

  • £150 for those on disability benefits to be paid in summer 2023

  • Financial help from the Household Support Fund (via local councils).

Save money on your business energy

Compare prices from trusted UK business energy suppliers and get your next business energy deal in minutes.

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Energy prices

How to switch energy

Types of energy

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Octopus Energy agrees deal to buy Shell Energy

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Energy price cap level lowered for third consecutive time to £1,923

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Uswitch 2023 Energy Awards winners announced

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Nearly six million households are stuck with a supplier they didn't choose

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Uswitch and So Energy launch exclusive fixed deal cheaper than the price cap

Uswitch and So Energy have launched an exclusive fixed deal cheaper than the price cap to both new and existing customers.

Energy price cap to be lowered to £2,074 from July 2023

Ofgem announces a reduction in the level of the energy price cap, from £3,280 to £2,074.

Energy suppliers are sitting on almost £7 billion of households' money

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UK salons struggle as energy bills top 40% of business costs

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Handley Park in Sixpenny Handley is the hardest street to heat in England and Wales

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Energy Price Guarantee level to remain at £2,500 for a further three months

The government has announced that the Energy Price Guarantee, through which it keeps customers' energy bills at a lower level than they otherwise would have been, will be maintained at its current level until the end of June 2023.

Energy suppliers could soon offer fixed deals between £2,200 and £2,500 according Uswitch analysis

With wholesale energy prices dropping and the Energy Price Guarantee due to stay at £2,500, suppliers could imminently be in a position to offer customers fixed deals.

Ofgem cuts energy price cap level to £3,280

Ofgem has cut the level of the energy price cap from April, though it will remain higher than the government's Energy Price Guarantee.

Uswitch launches Utrack Money Back demand flexibility scheme

Uswitch has announced the launch of its demand flexibility scheme, Utrack Money Back.

Arguments over energy usage on the rise in UK households

Uswitch research has shown that in the wake of high energy bills, more people are now arguing about energy use than they previously were.

Non-direct debit customers see energy bills rise in January

Although the Energy Price Guarantee is protecting customers from big price rises, some have seen a small increase since the beginning of 2023.

Government launches energy-saving campaign with support from Uswitch

The long-mooted government energy-saving campaign has launched across the country with focus on Uswitch and Utrack.

Uswitch announces launch of new mobile app Utrack

Uswitch has today launched its new mobile app, Utrack, which is designed to help energy users track and change their energy usage and habits.

Uswitch encourages UK households to Check, Track and Change their energy usage this winter

With more than a fifth of households saying they can only cope with rising bills by cutting their energy usage, Uswitch is encouraging customers to check, track and change their energy habits this winter.

Energy Price Guarantee sees energy prices frozen at £2,500 for two years

In the wake of rocketing energy bills making life financially impossible for UK households, the UK has intervened to fix energy prices with the Energy Price Guarantee.

Energy price cap level raised to new record high of £3,549

The second energy price cap revision of the year sees it raised to a new high of £3,549 for average use households across the UK.

Households underestimate energy price cap increase by over £1,000

With the price cap due to increase in August, Uswitch research has found that many households are vastly underestimating the amount it's likely to increase by.

UK households already owe £1.3 billion ahead of winter bill hikes

With an energy price cap increase imminent, Uswitch research has found that UK households' energy debt is already extremely high.

Ofgem confirms quarterly price cap

Ofgem has confirmed that it will now review the level of the energy price cap four times a year rather than twice.

Uswitch publishes Energy Crisis Plan

With a new Prime Minister to be appointed imminently, Uswitch has today published its Energy Crisis Plan calling for more support for UK households this coming winter.

Government announces new energy-focused cost of living relief measures

Energy bill increases have prompted the government to put together a package of financial relief measures for vulnerable customers.

UK energy debt reaches £1 billion with about one in four customers in debt to their supplier

Uswitch research has found that energy debt has topped a billion pounds this year, with 25% of customers in debt to their energy supplier.

Unprecedented energy price rise comes into effect

A 54% increase in average energy bills has come into effect under the first price cap of 2022.

Uswitch reveals the 10 things you should do before energy prices rise

With a significant energy price rise incoming, Uswitch has put together a ten-point plan to help customers prepare for higher bills.

More than 800,000 UK households install a smart meter since start of energy crisis

The energy crisis has seemingly spurred a surge in smart meter installations, with nearly a million households getting one in the past few months.

First price cap of 2022 set to rise to record high of £1,971

The energy price cap is due to rise to £1,971 in April - its highest ever level - as a result of the ongoing wholesale energy market crisis.

Two million homes face being pushed into debt as energy costs soar

With energy bills rising to once-in-a-generation heights, Uswitch research has found that millions of UK homes could end up in debt to their supplier.

What is Ofgem's energy price cap 2024? - Uswitch

Information on the energy price cap set by Ofgem at a level of £1,928 for standard variable tariff customers from January to April 2024.

Switching energy when moving house - Uswitch

Set up a new gas and electricity supply when you move to ensure you're on the best energy deal and discover how to inform your energy provider before moving home.

104 energy saving tips for your home - Uswitch

With working from home the new normal and energy prices high, it's important to keep your bills as low as possible. The best ways to do that are in our guide featuring 104 energy-saving tips.

Get help paying your energy bills - Uswitch

Get help paying your energy bills. There are options for those struggling - find out if you are eligible for an energy grant or a rebate on your energy bills.

Discover why 2024 energy price changes affect energy bills - Uswitch

Find out which suppliers have increased or decreased their energy prices and how that affects your energy bills in 2024.

How to find out if you’re eligible for an energy help scheme, grant or benefit - Uswitch

Find out if you're eligible for energy help schemes or benefits using our interactive tool.

Energy Price Guarantee: what does it mean for you? - Uswitch

What is the energy price freeze and what does it mean for you? Find out how energy prices are changing with the Energy Price Guarantee.

Energy switching myths busted - Uswitch

Think switching energy will mean you’ll get charged twice or temporarily lose power in your home? Think again. We reveal the truth behind some of the most common energy switching myths.

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What does the average UK gas and electricity bill look like? See how your energy usage and bills compare against Ofgem's averages for 2024.

Switching energy supplier for a cheaper deal - Uswitch

Looking for a cheaper gas or electricity supplier but not sure where to start? Check out our step-by-step guide on how to find a better energy supplier.

Who supplies my gas or electricity? - Uswitch

Find out who your gas or electricity supplier is and which energy plan you are on with our step-by-step guide.

Smart meters | What are they? How do they work?

Smart meters offer a free way to keep track of your energy usage and could mean the end of estimated bills and meter readings. Our comprehensive guide explains everything you need to know about smart meters.

Author: Ben Gallizzi | Last updated: 16 February 2024