Tariffs news from 2023
72 stories, newest first
- December 2023
Octopus Electroverse launches Plunge Pricing
Octopus Electroverse launched Plunge Pricing at the end of 2023, cutting public charging prices during periods of high energy supply, with discounts that vary by event and operator.
- November 2023
Prepayment meter regional rates for January to March 2024 added
The government has published Energy Price Guarantee regional unit rates and standing charges for prepayment meters covering January to March 2024, the final quarter of the scheme.
Ofgem to announce January 2024 unit rates
Which? has said its published appliance running costs will be updated once Ofgem announces January 2024 unit rates, with those rates and the running costs expected to rise.
Ofgem publishes updated default tariff cap levels for 1 January to 31 March 2024
Ofgem has set the default tariff cap for 1 January to 31 March 2024, raising the dual fuel direct debit level to £1,928, a 5% increase on the previous quarter.
Statutory Consultation on levelling standing charges published
Ofgem has published a statutory consultation to level standing charges so prepayment and direct debit customers pay the same daily charge, alongside a price cap rise of 5% from January 2024.
Campaigners call on Chancellor for Emergency Energy Tariff and Help To Repay scheme
Health, poverty, housing and environmental organisations and academics have written to Chancellor Jeremy Hunt urging an Emergency Energy Tariff and a Help To Repay scheme for households in energy debt.
Emergency Energy Tariff proposals presented to Government
Proposals for an Emergency Energy Tariff, using the Energy Price Guarantee mechanism, were presented to Government to ease the energy bills crisis in winter 2023/24.
Good Energy Default tariff rates change for non Direct Debit customers
Good Energy has ended the Direct Debit discount for non Direct Debit customers on its Default tariff from 1 November 2023, raising rates for those paying by other methods.
Ofgem publishes statutory consultation on levelling standing charges
Ofgem has published a statutory consultation proposing to level standing charges between prepayment and direct debit customers, cutting bills for prepayment households by around £50 a year.
- October 2023
Utilita Power Payback service starts
Utilita told customers its Power Payback service would begin on 30 October 2023, paying them for cutting electricity use during notified events.
flexi-2023 cost components change at 1 October 2023
ScottishPower has published revised third party cost components for its flexi-2023 variable tariff, showing the values applied to unit rates and standing charges from 1 October 2023.
Good Energy launches Solar Savings smart export tariff
Good Energy has launched Solar Savings, a smart export tariff paying 15p per kWh and 20p per kWh for Wessex ECOEnergy solar customers, up from a 10p pilot rate.
Lower standing charges for prepayment households begin
From 1 October 2023 prepayment meter households pay lower standing charges than those on other payment methods, a change described by the Welsh Government as a welcome first step.
Ofgem re-publishes price cap levels for cap period 11a under new 2023 TDCV values
Ofgem has re-published the October to December 2023 price cap levels using new 2023 Typical Domestic Consumption Values, putting the dual fuel direct debit cap at £1,834.
Quarterly change to Flexi variable costs from 1 October 2023
ScottishPower has published the Flexi variable cost values that apply from 1 October 2023, showing quarterly changes to network, environmental and smart meter charges across its regional tables.
Second Warm This Winter Tariff Watch report published
The second Warm This Winter Tariff Watch report finds 337 fixed tariffs priced above the Ofgem price cap, an average exit fee of £138 and supplier operating costs of £242 per customer.
UNC mod 840 change reduces prepayment cap level
Ofgem's October price cap methodology change equalising Unidentified Gas allocation between prepayment and non-prepayment customers cuts the prepayment cap level by £51, part offset by a £9 bad debt allowance.
- September 2023
MCS responds to SEG confusion and sets out its future role
MCS has clarified that regulated Smart Export Guarantee tariffs require an MCS certified installation, while non-regulated export tariffs remain at energy companies' discretion, and has set out planned scheme changes.
Commons committee backs social tariff
The House of Commons Energy Security and Net Zero Committee backed a social tariff for specific groups of consumers in September 2023, as part of a long-running campaign for energy tariff reform.
Organisations line up to back energy tariff reform
More than 140 charities, organisations and MPs have signed an open letter urging the Prime Minister to consult on and deliver an energy social tariff before winter.
- August 2023
tado° introduces three new energy cost products
tado° has launched a smart charging app for home electric vehicle charging and introduced a heat pump control, alongside an announced hourly dynamic tariff, in eight European markets including the UK.
Ofgem publishes updated default tariff price cap levels for 1 October to 31 December 2023
Ofgem has set the default tariff price cap for 1 October to 31 December 2023 at £1,923 for a typical dual fuel direct debit household, a fall of £151 or 7 per cent.
Prepayment meter regional rates for October to December 2023 added
The government added Energy Price Guarantee regional unit rates and standing charges for prepayment meters covering October to December 2023 to its published rates page.
Government directs Ofgem to end PPM premium
In August 2023 the Government directed Ofgem to permanently end the premium paid by prepayment meter customers, with a Call for Evidence on levelling the standing charge.
Inaugural Tariff Watch report published
The Warm This Winter coalition has published the first Tariff Watch report, estimating that household energy suppliers could make £1.74bn in profits over the next 12 months from customers' bills.
Ofgem announces cap fall to £1,923 for Q4 2023
Ofgem set the default tariff cap for October to December 2023 at £1,923 for a typical dual fuel household, down from £2,074, though standing charges rose and the Energy Bills Support Scheme has ended.
Ofgem set out options to levelise prices across payment methods
Ofgem has set out options for levelling the standing charges paid by prepayment meter customers with those paid by other households, as part of a wider review of debt-related costs in the price cap.
- July 2023
First Warm This Winter Tariff Watch report published
The first Warm This Winter Tariff Watch report, produced with Future Energy Associates, says suppliers could make £1.74bn in permitted profit over the next 12 months and sets out regional price differences.
Fixed tariff availability doubles in July 2023
The number of fixed energy tariffs newly available on the UK market doubled in July 2023, from five in early 2023 to ten, according to the first Warm This Winter Tariff Watch report.
Government reduces Energy Price Guarantee extra support to zero
The government cut the extra support paid through the Energy Price Guarantee to zero on 1 July 2023, ending a 3.77p per unit discount for Power NI customers and adding an estimated 14p a day to bills.
Intelligent Octopus Flux launched
Octopus Energy launched Intelligent Octopus Flux in July 2023, a bundled import and export tariff for homes with solar panels and a qualifying battery, with matching peak rates.
Prepayment meter customers no longer face the highest energy costs
Ofgem and Citizens Advice research finds prepayment meter customers have not faced the highest energy costs since July 2023, with satisfaction reaching a record 81% in January 2025.
Prepayment meter premium ended
From 1 July 2023 households on prepayment meters are no longer charged more for their energy than direct debit customers, ending a long-standing price premium.
Prepayment price penalty ends for prepayment customers
Legislation effective 1 July 2023 ends the prepayment price penalty, so households on prepayment meters should no longer pay more than Direct Debit customers, saving an estimated £45 a year on average.
- May 2023
Prepayment meter regional rates for July to September 2023 added
The government has added Energy Price Guarantee regional unit rates for prepayment meters covering July to September 2023 to its published rates page.
Next quarterly price cap update due 25 May 2023
Ofgem has confirmed that its next quarterly update to the energy price cap will be published on 25 May 2023, setting the level that applies from 1 July.
Ofgem sets July to September price cap at £2,074
Ofgem has set the default tariff price cap for 1 July to 30 September 2023 at £2,074 a year for a typical dual fuel direct debit household, down from £3,280.
Government responds to petition on unmetered tariff for elderly and disabled
The Government told petitioners on 11 May 2023 that it intends to consult on options for consumer energy protection in summer 2023, for measures applying from April 2024.
Wind and water turbines added to qualifying ESMs and 60% test removed
Wind and water turbines become permanently qualifying energy-saving materials and the 60% test and social policy conditions are permanently removed, with a temporary zero rate extended to Northern Ireland from 1 May 2023.
- April 2023
OVO and Kaluza launch Charge Anytime EV smart charging add-on
OVO and Kaluza have launched Charge Anytime, an EV charging add-on priced at 10p per kWh and billed separately from household electricity, with charging optimised by Kaluza's software.
Budget 2023 equalises prepayment meter and direct debit prices
The Spring Budget 2023 confirmed that prepayment meter prices would match direct debit prices from April 2023, ending the long-standing premium paid by households who top up.
Energy price cap due to rise in April 2023
The National Insulation Association has told a government consultation that a further 20% rise to the energy price cap was expected in April 2023, as it pressed for faster delivery of insulation under the ECO+ scheme.
flexi-2023 cost components change at 1 April 2023
ScottishPower has published revised third party cost components for its flexi-2023 variable tariff from 1 April 2023, with Transmission Network Use of System moving from the unit rate into the daily standing charge.
GBIS allowance included in the default tariff cap from April 2023
Ofgem has included an allowance for the Great British Insulation Scheme in the default tariff cap from April 2023, passing the cost of the renamed ECO+ scheme to billpayers.
Ofgem price cap change brings highest standing charges since 2019
Ofgem's price cap from 1 April 2023 brings the highest standing charges since the cap began in 2019, up 64%, as National Energy Action warns 7.5 million households will be in fuel poverty.
Quarterly change to Flexi variable costs from 1 April 2023
ScottishPower has published the Flexi variable cost breakdown applying from 1 April 2023, showing a sharp fall in electricity distribution standing charges and a new transmission standing charge.
- March 2023
Which? publishes response to BEIS carbon content transparency consultation
Which? has told BEIS that green and renewable tariffs need standardised definitions, mandated sourcing information and a framework that covers electric vehicle charging and green gas.
Power NI announces underlying unit price decrease offset by reduced EPG support
Power NI has cut its underlying residential electricity unit price by 6.61p per unit, but a larger reduction in Energy Price Guarantee support means bills rise 14 per cent from 1 April 2023.
EPG extended to end of June 2023 and April to June rates added
The government extended the Energy Price Guarantee to the end of June 2023 and published the regional unit rates that apply to standard variable tariffs from April to June 2023.
Government announces prepayment standing charge compensation in the Budget
The UK Government said in its 15 March 2023 Budget that it will compensate prepayment customers for higher standing charges from July 2023 to March 2024, at a cost of £200 million.
NEA publishes response to Ofgem call for evidence on prepayment rules and protections
National Energy Action has published its response to Ofgem's call for evidence on prepayment rules, naming four areas it says need significant consideration before protections are settled.
OVO Energy launches Kaluza-powered Charge Anytime EV charging plan
OVO Energy has launched Charge Anytime, a smart charging add-on giving eligible customers a flat 10p per kWh rate for electric vehicle charging, separate from their household electricity.
Chancellor announces Energy Price Guarantee
The Chancellor announced the Energy Price Guarantee in March 2023 to address higher prepayment costs, a scheme later replaced by prepayment levelisation from April 2024.
EDF raised SEG Export Variable rate from 1.5p to 3p per kWh
EDF raised the rate on its no-strings SEG Export Variable tariff from 1.5p to 3p per kWh in March 2023, a rate that has since stayed unchanged while average export prices moved higher.
UK government announces plan to equalise prepayment and Direct Debit tariff costs
The UK government said in March 2023 that it would work to equalise the cost of prepayment and Direct Debit tariffs, addressing a gap in what households pay for the same energy.
Octopus Flux tariff launched
Octopus Flux, a variable import and export tariff for homes with solar panels and a battery, has been available since March 2023 and changes every three months with Ofgem's price cap.
Ovo and SSE launch fixed tariffs estimated to yield suppliers around £484 and £469 profit per customer
Analysis by Future Energy Associates estimates that two new one year fixed tariffs from Ovo and SSE will earn suppliers £484 and £469 profit per customer while costing households more than the price cap.
Smart Pay Energy withdrew from the SEG during Year 3
Ofgem's SEG annual report records that Smart Pay Energy left the scheme part way through Year 3 against policy, and will be added to the Supplier Performance Report.
Spring Budget announces alignment of direct debit and pre-payment meter charges
The Spring Budget confirmed that charges for comparable direct debit and pre-payment meter customers would be aligned, ending the premium pre-payment customers pay for their energy.
Tesco raises EV charging prices
Tesco raised the cost of charging an electric car at its stores in March 2023, with the 7kW rate rising from 28p to 44p per kWh, ending the free charging it once offered.
- February 2023
Ofgem to announce April to June price cap level
Ofgem will set the April to June price cap on February 27th, with suppliers writing to households within days, as Energy UK urges the government to hold the Energy Price Guarantee at £2,500.
Ofgem sets price cap at £3,280 for April to June 2023
Ofgem has set the energy price cap for 1 April to 30 June 2023 at £3,280 for a typical dual fuel direct debit household, down from £4,279, but the Energy Price Guarantee rises to £3,000.
Call for evidence on prepayment rules launched
Ofgem opened a call for evidence on prepayment meter rules on 21 February 2023, the first step in a process that ended with new licence conditions taking effect on 8 November 2023.
ScottishPower launched SMART GEN and SMART GEN + tariffs
ScottishPower launched SMART GEN and SMART GEN + export tariffs on 16 February 2023, with Ofgem later recording SMART GEN as the highest unbundled Smart Export Guarantee rate of SEG Year 3.
Ofgem opens Call for Input on proposed TDCV updates
Ofgem has opened a Call for Input on proposed updates to the gas and electricity Typical Domestic Consumption Values and the Economy 7 peak and off-peak split, with comments due by 27 March 2023.
- January 2023
First live DFS event held
The first live Demand Flexibility Service event on 23 January 2023 paid 400,000 households and businesses £3.37 per kilowatt hour for electricity demand they reduced.
Prime Minister says consulting on options including a social tariff
The Prime Minister told the House of Commons on 18 January 2023 that the Government was consulting on options for energy bills, including a social tariff, as part of wider reforms of the retail energy market.
2023 Flexi variable cost values take effect for 1 January 2023
ScottishPower has published the first of three quarterly sets of variable cost values for its 2023 Flexi product, covering the period from 1 January 2023.
Charities call for social energy tariff as research shows a quarter of over-60s in cold homes
Age UK polling shows a quarter of over-60s live in homes colder than they would like, as 100 charities and non-profits write to the Chancellor calling for a social energy tariff.
Economy 7 electricity tariffs rise by an average of 7.6%
Electricity-only Economy 7 customers saw average annual bills rise by £116 from 1 January 2023, a 7.6% increase driven largely by EDF and Scottish Power raising Economy 7 rates.
Energy price cap forecast to reach £4,266 a year from January 2023
Forecasts put the energy price cap at £4,266 a year for a typical household from January 2023, up from the £2,800 expected earlier in 2022, with low-income homes facing the sharpest squeeze.
EPC fuel prices updated with increases to all fuels
The January 2023 six monthly update to the fuel prices behind Energy Performance Certificates raised every fuel, but the new figures remain far below what households actually pay.