OFGEM Price Cap Jan to Mar 2024

[nowty]

Its announcement day from OFGEM today for the next control period.
https://www.bbc.co.uk/news/business-67484090

"Energy regulator Ofgem said the typical annual household bill would go up from £1,834 to £1,928, a rise of £94 or 5%."

From Martin Lewes on X, as he normally has the unit rates up front,

ELEC: Unit rate: 28.62p/kwh (currently 27.35p) so up 4.6%. Standing charge unchanged at 53.37p
GAS: Unit rate: 7.42p/kwh (currently 6.89p) so up 7.6%. Standing charge unchanged at 29.6p7p

[dan_b]

But tariffs went down quite a lot in this last quarter - are they going up again, or is it just what OFGEM will say is the price cap?

[nowty]

But tariffs went down quite a lot in this last quarter - are they going up again, or is it just what OFGEM will say is the price cap?

For all those on standard rates which is by far most folk (but excluding most of us lot) they will go up slightly in Jan.