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Current gas and electricity prices


This page shows current gas and electricity prices. Elsewhere on this website, when we refer to savings or costs, these are based on these prices unless otherwise stated.

Prices as of 18 March 2024


Gas

Average across England, Scotland and Wales, based on a standard variable tariff (default tariff) paid for by Direct Debit, and includes VAT. 

Unit rate: 6.04 pence per kilowatt hour (kWh)
Standing charge: 31.43 pence per day (about £115 per year)


Electricity

Average across England, Scotland and Wales, based on a standard variable tariff (default tariff) paid for by Direct Debit, and includes VAT. 

Unit rate: 24.50 pence per kilowatt hour (kWh)
Standing charge: 60.10 pence per day (about £219 per year)

For economy 7, the unit rate is 12p/kWh (night) and 29p/kWh (day).


What is “unit rate”?

A unit rate is the price you pay per unit of gas or electricity. Units are measured in kilowatt hours (kWh).

What is “standing charge”?

The standing charge is a daily charge that you pay your energy supplier each day to cover fixed costs of providing gas and electricity, regardless of how much energy you use. The standing charge is used to recover the costs required to provide energy company services, including providing and maintaining the wires, pipes and cables that deliver power to a customer’s door, through to the staff and buildings required for the energy business to function.   

The standing charge is covered by the energy price cap, which sets a ceiling on how much suppliers can charge for it. 


About the price cap

The price cap was introduced in 2019. It stops energy companies from charging too much for each unit of energy and the daily standing charge by setting a maximum price.

If you’re on a standard variable tariff (which is the default one) then you’ll be protected by the price cap.

The price cap is adjusted every three months to reflect whether wholesale energy costs have gone up or down.

The price cap only affects how much you pay for each unit of energy and the daily charge. If you use more energy, your bill will still be higher, and if you use less, it’ll be lower.

Between 1 April to 30 June 2024 the energy price cap is set at £1,690 per year for a typical household who use electricity and gas and pay by Direct Debit. This is £238 lower than the cap set between 1 January to 31 March 2024 (£1,928).

For more on the price cap, see Ofgem.