Last updated: Thursday 22 October 2026 (Europe/London).
Next update: on the day Ofgem announces the January to March 2027 price cap, due by 25 November 2026.
By: Switch Editorial Team, Switch Squid Ltd
As of 22 October 2026, Ofgem will announce the next energy price cap by 25 November 2026, and it will apply from 1 January to 31 March 2027. Until then the cap stays at £1,723 a year for a typical dual-fuel home paying by Direct Debit. The following announcements are due by 23 February 2027 and 26 May 2027. Ofgem says it may publish earlier if outside events force it to. This SwitchSquid guide sets out every confirmed date, what the announcement changes and what to do before 25 November if you are on a variable tariff or your fix is about to finish. We may earn a commission if you compare or switch through links on this page; it doesn’t change the price you pay.
Sources: Ofgem — changes to the energy price cap, 1 October to 31 December 2026 and Ofgem — price cap unit rates and standing charges (both checked on 22 October 2026).
Compare home energy deals before 25 November (MoneySuperMarket)
The cap is £1,723 a year for a typical dual-fuel home on Direct Debit from 1 October to 31 December 2026, when we checked on 22 October 2026
Compare fixed deals against the cap at your own postcode and usage
Main limitation: not every supplier or tariff appears on every comparison, and the cap limits unit rates, not your total bill
The next energy price cap announcement: 25 November 2026
Ofgem reviews the price cap every three months. On its October 2026 price cap page, it lists the next announcement as “by 25 November 2026” for the period from 1 January to 31 March 2027.
The word “by” matters. Ofgem has committed to publishing no later than that date, and it adds that it may publish before these dates if it needs to because of external reasons. Either way, 25 November is the date to put in your diary. If it comes out early, the main news outlets and comparison sites will report it the same morning.
The announcement sets the maximum unit rates and standing charges suppliers can charge on standard variable tariffs, also called default tariffs, for those three months. The headline figure everyone quotes, such as £1,723, is what a typical dual-fuel household would pay over a year at those rates.
Every confirmed price cap date for 2026 and 2027
This table shows the dates Ofgem has published, plus the current period for reference. All dates were checked on Ofgem’s website on 22 October 2026.
Cap period | Announced by | Typical dual-fuel cap | Electricity unit rate and standing charge | Gas unit rate and standing charge | What to do |
|---|---|---|---|---|---|
1 October to 31 December 2026 (now) | Announced 26 August 2026 | £1,723 a year | 26.32p per kWh, 54.83p a day | 7.97p per kWh, 29.68p a day | Compare fixed deals against these rates now |
1 January to 31 March 2027 | 25 November 2026 | Not yet announced | Not yet announced | Not yet announced | Decide whether to fix before or after 25 November |
1 April to 30 June 2027 | 23 February 2027 | Not yet announced | Not yet announced | Not yet announced | Check whether VAT on electricity changes from April |
1 July to 30 September 2027 | 26 May 2027 | Not yet announced | Not yet announced | Not yet announced | Review your tariff before summer |
Current rates are averages for England, Scotland and Wales for customers paying by Direct Debit. Electricity carries no VAT from 1 October 2026 to 31 March 2027 under a temporary zero rate, and gas includes 5% VAT, according to Ofgem.
The gap between announcement and start date is usually about five weeks. The October cap, for example, was announced on 26 August and took effect on 1 October. That gives suppliers time to write to customers and gives you time to act.
Choose a fix if it beats the cap
Compare the yearly cost, not just the unit rate
Check exit fees on any new fixed deal
On a variable tariff or in the last 49 days of a fix, you can switch with no exit fee
What the November announcement will and won’t change
It will change: the maximum unit rates and daily standing charges on standard variable tariffs from 1 January 2027, and the typical yearly figure based on them. If you are on a variable tariff, your rates will move automatically on 1 January to whatever Ofgem sets. Suppliers must tell you about the change.
It won’t change:
Fixed tariffs. If you are on a fixed deal, your unit rates and standing charges stay as agreed until the fix finishes, whatever Ofgem announces.
Your total bill limit. The cap limits the price per unit and per day, not what you pay overall. Use more energy in a cold January and your bill goes up.
Your Direct Debit straight away. Suppliers usually review payments separately. Our guide to Direct Debit recalculations explains how that works.
Rates also vary by region and payment method. Our price cap by region guide shows the current figures where you live.
Will the January 2027 price cap go up or down?
Nobody outside Ofgem knows the final figure until 25 November. Ofgem works it out from wholesale gas and electricity prices over a set period before each announcement, plus network, policy and operating costs. Analysts publish forecasts as the wholesale period runs, and those forecasts can shift from week to week.
We track the latest predictions, with sources and dates, in our January 2027 price cap forecast. Use that page for numbers and this one for dates. A forecast is not an announcement, so don’t make a decision on a single prediction.
One known change sits further ahead. The temporary zero rate of VAT on household electricity runs from 1 October 2026 to 31 March 2027, according to HMRC’s fuel and power VAT notice. The February 2027 announcement for April to June will show what electricity rates look like from April.
What to do before 25 November
Your best move depends on your tariff today.
On a standard variable tariff: you can switch at any time with no exit fee. If a fixed deal below today’s capped rates is available, fixing now protects you if the January cap rises. If you would rather wait for the announcement, you lose nothing by comparing again on 25 November.
Fix finishing in the next 49 days: you can switch now without an exit fee. Our guide to switching without a penalty and the 49-day rule explains the window.
Fix with months to run: the announcement doesn’t affect your rates. Note your end date and compare when you are inside the 49-day window.
Prepayment meter: prepayment rates are capped too. Ofgem says you can switch supplier with up to £500 of debt on a prepayment meter, as long as the new supplier offers a prepayment tariff.
When you compare, look at the yearly cost at your own usage rather than the unit rate alone, and check any exit fees on the new fix. Our cheapest fixed energy deals and tracker vs fixed guide set out the current choices.
Not sure which applies to you? Ask Squid AI, SwitchSquid’s AI deal assistant, to explain what the next cap change means for your tariff.
How the announcement reaches your bill
Ofgem announces the new cap by 25 November, with average rates for each region and payment type.
Your supplier writes to you if you are on a variable tariff, setting out your new rates before they apply.
New rates start on 1 January 2027 for everyone on a standard variable tariff.
Your supplier may review your Direct Debit to match your expected usage at the new rates.
Submit a meter reading on or near 1 January if you don’t have a working smart meter, so energy used in December is charged at December’s rates.
Our price cap guide explains how the cap is built, and our step-by-step switching guide covers moving supplier.
Fit summary
Compare now: you are on a variable tariff and want certainty before winter bills arrive.
Compare now: your fix finishes within 49 days.
Diary it: your fix runs well into 2027, so the November announcement doesn’t change your rates yet.
Important conditions
Ofgem’s dates are deadlines; it may announce earlier for external reasons.
The cap limits unit rates and standing charges on variable tariffs, not your total bill.
Fixed tariffs are not affected by cap changes until the fix finishes.
Exit fees may apply if you leave a fix with more than 49 days left.
Rates differ by region and payment method; the £1,723 figure is a national average for Direct Debit.
Final decision card
On a variable tariff? Compare fixed deals against today’s £1,723 cap before 25 November.
Fix finishing soon? Use the 49-day window to move without a fee.
Waiting for the figure? Come back on 25 November and compare again.
Check energy deals for your postcode
Have your latest bill and yearly kWh ready
Your new supplier arranges the switch
You have 14 days to cancel after you agree to switch
FAQ
When is the next energy price cap announcement?
Ofgem will announce the next price cap by 25 November 2026. It covers 1 January to 31 March 2027. Ofgem says it may publish earlier if external events require it.
What are the energy price cap dates for 2027?
Ofgem will announce the April to June 2027 cap by 23 February 2027 and the July to September 2027 cap by 26 May 2027. Each cap lasts three months. The January to March 2027 cap is announced by 25 November 2026.
What is the energy price cap right now?
From 1 October to 31 December 2026, the cap is £1,723 a year for a typical dual-fuel home paying by Direct Debit. Electricity averages 26.32p per kWh with a 54.83p daily standing charge. Gas averages 7.97p per kWh with a 29.68p daily standing charge.
How often does Ofgem change the price cap?
Ofgem changes the cap every three months, on 1 January, 1 April, 1 July and 1 October. It announces each new level about five weeks before it starts. Suppliers then write to customers on variable tariffs.
Does the price cap announcement affect fixed tariffs?
No. A fixed tariff keeps the rates you agreed until it finishes. The cap only applies to standard variable tariffs, which is where most people move when a fix finishes without a new choice.
Should I fix my energy before the next price cap announcement?
It depends on the fixed deals available and how much certainty you want. Fixing now protects you if the January cap rises, while staying variable lets you benefit if it falls. Compare the yearly cost at your usage before you decide.
Can the price cap be announced early?
Yes. Ofgem’s published dates are the latest it will announce, and it says it may publish before them if external reasons make that necessary. If that happens, Ofgem sets out the new rates and the date they apply in the same announcement.
Last updated: Thursday 22 October 2026 (Europe/London).
Next update: on the day Ofgem announces the January to March 2027 price cap, due by 25 November 2026.
By: Switch Editorial Team, Switch Squid Ltd
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