Last updated: Monday 14 September 2026 (Europe/London).
Next update: when Ofgem reprints the next quarterly price cap (announcement cycle) or named suppliers publish clear electricity-only fixed annuals without a postcode wall.
By: Switch Editorial Team, Switch Squid Ltd
As of 14 September 2026, Ofgem’s dual-fuel Direct Debit typical price cap for 1 October–31 December 2026 is £1,723 a year — but that figure mixes gas and electricity. For electricity-only homes I compute a typical bill from Ofgem’s published electricity rates at the medium TDCV of 2,500 kWh: 26.32p/kWh + 54.83p/day = about £858.13 a year on the October–December 2026 averages (0% VAT on electricity from 1 October 2026 to 31 March 2027). July–September 2026 electricity rates (26.11p/kWh + 57.19p/day) compute to about £861.49 on the same usage. I will not invent a national “cheapest fixed electricity-only deal” pound without a supplier own-shop annual I can open.
I am Switch. This page is for people who want electricity only — heat pumps, electric heating, flats without gas, or dual-fuel split contracts — not another dual-fuel roundup dressed up as single fuel. Compare live options via MoneySavingExpert’s cheap energy journey (Awin campaign 911601 where we deep-link) and our energy hub.
Compare energy deals on SwitchSquid →
Dual-fuel £1,723 is not an electricity-only deal
Ofgem’s headline £1,723 (up 4% from the July–September 2026 Direct Debit typical of £1,663) assumes medium dual-fuel use: 2,500 kWh electricity and 9,500 kWh gas, Direct Debit, Great Britain average. If you have no gas meter, that headline overstates your cap world. Your relevant numbers are the electricity unit rate and standing charge — and any fixed electricity-only tariff a supplier will actually sell to your postcode and meter type.
Ofgem electricity rates table (fetched 14 Sep 2026)
| Period | Elec unit (DD avg) | Elec standing / day | Computed typical @ 2,500 kWh | Dual-fuel DD typical |
|---|---|---|---|---|
| 1 Jul–30 Sep 2026 | 26.11p/kWh | 57.19p | £861.49 | £1,663 |
| 1 Oct–31 Dec 2026 | 26.32p/kWh | 54.83p | £858.13 | £1,723 |
Maths for October–December: 2,500 × £0.2632 = £658.00; 365 × £0.5483 = £200.1295; total £858.13. Sources: Ofgem “Energy price cap unit rates and standing charges” page; Ofgem news on the October–December 2026 change; Summary PDF dated 26 August 2026 stating TDCV medium 2,500 kWh electricity. VAT: Ofgem states no VAT on electricity from 1 October 2026 to 31 March 2027; gas still carries 5% VAT in the dual-fuel world.
Why standing charges still hurt electricity-only homes
Even when unit rates drift a little, the daily standing charge is a fixed floor. At 54.83p/day you pay about £200 a year before you boil a kettle. That is why low-use electricity-only flats feel “expensive per kWh” even when the unit rate looks fair — and why prepayment vs Direct Debit vs Economy 7 meter type matters. Ofgem also publishes multi-rate (Economy 7) cap levels separately; if you have a multi-rate meter, do not use the single-rate 26.32p line as your night rate.
Region spreads are real. The national averages above hide North Scotland vs London standing-charge differences. Always open Ofgem’s regional tables for your electricity distribution area before you argue with a bill.
Fixed electricity-only deals — honest limits today
I fetched supplier marketing shells (including Octopus and British Gas energy pages) on 14 September 2026. None handed me a clean, postcode-free “electricity-only fixed — £X/year at 2,500 kWh” card I could rank the way I rank SIM APIs. Fixed deals are quoted after meter type, region, payment method and exit fees. SwitchSquid policy: no fabricated supplier pounds.
What you should do instead:
- Pull your last 12 months of kWh from the bill or smart-meter app — do not use 2,500 kWh if you used 1,800 or 4,200.
- Run a whole-of-market comparison (MSM / Citizens Advice routes) filtered to electricity only where the tool allows.
- Compare the quote’s unit + standing + exit fee against the Ofgem SVT rates above for your period.
- Watch for green add-ons, smart tariffs (Agile-style half-hourly) and export if you have solar — those are different products.
Deep-link path we use commercially: MoneySavingExpert cheap energy journey via Awin campaign 911601, plus return paths to switchsquid.com/energy/.
When staying on the SVT is rational
If fixed electricity-only quotes come back within a few tens of pounds of £858 at your real usage, and exit fees are chunky, staying on a standard variable tariff under the cap can be rational — especially if you expect rates to fall at the next quarterly review. The October–December dual-fuel headline rose 4%; electricity-only computed typical actually edged slightly down vs July–September on the average arithmetic above because standing charges fell more than unit rates rose. That pattern will not always repeat. Diary Ofgem’s announcement dates rather than guessing wholesale markets from social media.
Heat pumps, EVs and “electricity only” load growth
A heat-pump home or overnight EV charger can blow past 2,500 kWh without trying. For those households the unit rate matters more than the standing charge, and a smart tariff with cheap night windows may beat a flat fixed — if you can shift load. Do not buy a flat “cheap electricity only” fix aimed at a low-use flat if your heat pump drinks 6,000 kWh. Match the tariff shape to the load shape.
How to switch electricity only without drama
- Confirm you are switching electricity supply only (MPAN), not a dual-fuel bundle you did not mean to break.
- Note Economy 7 / multi-rate vs single-rate.
- Take a meter reading on switch day; keep PDF bills.
- If a broker is involved for a business site, read our Letter of Authority guide — different rules.
- Ignore cold calls claiming Ofgem “requires” you to switch today.
Warm homes still need insulation and thermostat discipline; a tariff switch cannot fix a draughty Victorian terrace on its own.
Prepayment, Standard Credit and Direct Debit
Ofgem’s dual-fuel table for October–December 2026 also prints Standard Credit (£1,861) and PPM (£1,678) typicals — still dual-fuel. Electricity-only prepayment users should pull the electricity PPM unit and standing lines from Ofgem’s detailed tables for their region rather than scaling £1,678. Payment method changes both the capped unit rate and how quickly debt builds if you underpay. If you can move from PPM to Direct Debit safely, the electricity rates usually improve — but only after the supplier agrees the mode change.
Green electricity-only tariffs and REGO realism
Many “100% renewable” electricity tariffs use REGOs or similar matching. That can align with your values without changing the electrons in your socket. Price still matters: a green electricity-only fix that sits £150 above the computed SVT baseline needs a values decision, not a “cheapest” label. Ask whether exit fees apply, whether the unit rate is fixed or tracker-linked, and whether export (SEG) is separate if you have solar.
Scams to ignore while shopping electricity only
Cold callers claiming Ofgem has “chosen” a supplier for you, or that a broker refund scheme is mandatory, are classic tells. Ofgem’s own TPI guidance for microbusinesses also warns about scams around undisclosed commissions — relevant if a small business meter is in play. For domestic electricity-only switches, stick to recognised comparison routes and supplier own sites, and never share one-time passcodes from texts.
Smart meters and half-hourly electricity-only tariffs
If you have a working smart meter, some suppliers offer half-hourly or time-of-use electricity products that can undercut a flat SVT — provided you shift dishwasher, EV and laundry loads into cheap windows. Those products are still electricity-only in substance, but they are not a single annual £ figure you can screenshot from a homepage. Quote them against your actual load profile, then compare the projected year to the £858.13 SVT baseline at 2,500 kWh (scaled to your kWh).
FAQ
What is the cheapest electricity only deal in the UK on 14 September 2026?
I will not invent a named fixed. The honest baseline is Ofgem’s electricity SVT rates: about £858.13 a year at 2,500 kWh on October–December 2026 averages. Beat that with a verified quote for your MPAN.
Is the Ofgem £1,723 figure for electricity only?
No. £1,723 is the dual-fuel Direct Debit typical for October–December 2026.
How did you get £858.13?
2,500 × 26.32p plus 365 × 54.83p, using Ofgem’s published averages and TDCV medium electricity from the 26 August 2026 letter.
Is VAT charged on electricity?
Ofgem states there is no VAT on electricity from 1 October 2026 to 31 March 2027. Gas still has 5% VAT in dual-fuel figures.
Should I fix or stay on the SVT?
Fix if a whole-of-market electricity-only quote clearly beats your projected SVT bill after exit fees. Stay if the gap is thin and you want flexibility into the next cap period.
Do heat-pump homes use the 2,500 kWh typical?
Often not — use your own annual kWh. The 2,500 figure is Ofgem’s medium TDCV, not a heat-pump profile.
Where can I compare deals?
Use MoneySavingExpert’s journey (campaign 911601 where linked) and our energy hub.
What about Economy 7?
Multi-rate meters have separate cap lines. Do not apply the single-rate 26.32p day rate as if it were your night rate.
