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🧵 13/13

Here's all you need to know...

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🧵 12/13

But remember, none of this affects business energy bills.
There is no energy price cap for business customers in the UK. Your gas and electricity bills are determined by your contract and consumption, not by the Ofgem cap that protects domestic customers.
🧵 11/13

"The main driver is the rise in international gas prices, which has restricted supplies out of the Straight of Hormuz. That feeds directly into our gas bills, but also contributes to higher electricity bills because we still burn some gas for electricity [production]."
🧵 10/13

Speaking on BBC Radio 4 on the day of the announcement (August 26, 2026), Neil Kenward, Interim Director General for Markets, said of the increase, "This is an increase today of just under 4% - so 3.6% - that's about £5 per month on the average bill.

🧵 9/13

⚡ Average use fell by 7% to 14%, dropping from 2,700 kWh to 2,500 kWh a year
🔥 Average use fell by 15% to 20%, dropping from 11,500 kWh to 9,500 kWh a year
These figures come from the Ofgem Consultation and help set the baseline for the annual price cap and help
🧵 8/13

Back to that definition of a 'typical' energy user. Ofgem cut its benchmark for a typical household's energy use, known as Typical Domestic Consumption Values (TDCVs), from July 1, 2026. The change was introduced to reflect real drops in household energy use.
🧵 7/13

From October 1, 2026, to December 31, 2026, the energy price cap rates below will apply:
⚡ Electricity - 26.32p per kWh (unit rate) and 54.83p per day (standing charge)
🔥 Gas - 7.97p per kWh (unit rate) and 29.68p per day (standing charge)
🧵 6/13

But don't look at the cap as a maximum bill amount. It caps the unit rate and standing charge on domestic standard variable rate tariffs.
🧵 5/13

Typical households now pay around £600 a year more on energy than before Russia invaded Ukraine. This has led to unpaid bills and charges, with energy firms expecting the total to reach £7 billion by the end of the year.
🧵 4/13

In any case, that's a total increase of about 17% on household energy bills since the summer - a lot for already stretched households to absorb.
🧵 3/13

If those figures look a little different to last time, that's because Ofgem has updated its definition of a 'typical' energy user. Under the old system, a typical dual-fuel household paying by Direct Debit would be hit with an annual bill of £1,941 under the new price cap.
🧵2/13