Home / News & events / The energy price cap is changing on 1 April: what does this mean for you?

The energy price cap is changing on 1 April: what does this mean for you?

Posted: February 26, 2024

From 1 April, the price a typical household pays for energy by Direct Debit will go down to £1,690 per year. Prices should fall on average by around £240 per year, but this depends on how much energy you use, and the price cap only applies to the unit prices and standing charge.

If you are on a fixed-term deal, then there will be no change in tariff price or standing charge until your deal runs out. It may be worth considering buying out of your current deal depending on the cancellation fee and tariff price you have agreed.

If you are not on a fixed term deal, your prices will fall. Please see the updated energy costs in the chart below, based on how you pay for your energy.

Paying full bill when it comes in without having Direct Debit set up New price if you pay by Direct Debit New price if you pay by prepay meter
Electricity per kWh 25.24p 23.97p 23.20p
Daily standing charge 68.97p 63.31p 63.31p
Gas per kWh 6.27p 5.96p 5.72p
Daily standing charge 35.21p 31.67p 31.67p


The energy prices have reduced by around 15%, however the standing charge for Direct Debit customers has been raised and is now the same as prepay customers.

Prices for payment meters on receipt of bill are now the highest, which will push energy customers to set up a Direct Debit payments.

If you have any questions around the new price-cap, help with buying out of your fixed-term deal, or would like help to reduce energy bills, HEAT can help. Get in touch with the team now on 0300 123 2640, or by email at customerservice@hillcrest.org.uk.