Tariffs news from 2024
62 stories, newest first
- December 2024
equiwatt launches PowerSmart events for NESO's Demand Flexibility Service
equiwatt has launched PowerSmart events for NESO's Demand Flexibility Service, adding multi-event notifications, more eGift rewards, a spot prize draw and smart device automations for all app users.
- November 2024
DFS became a year-round in-merit service
The Demand Flexibility Service moved from a winter-only scheme to a year-round, in-merit margin tool on 27 November 2024, giving the system operator a standing option to pay households and businesses for shifting electricity use.
Ofgem sets price cap for 1 January to 31 March 2025
Ofgem has set the energy price cap for 1 January to 31 March 2025 at £1,738 a year for a typical Direct Debit dual fuel household, a rise of £21 or 1.2% on the current level.
EDF launches 12-month fixed tariff priced below the January price cap
EDF has launched a 12-month fixed tariff at £1,608 for a typical direct debit household, which it says is £130 below the level the January price cap is expected to reach.
Cornwall Insight report models up to £650 annual savings from heat pump flexing
A Cornwall Insight model commissioned by Nesta finds heat pump owners could save up to £650 a year by moving to a time-of-use tariff and shifting heat demand away from peak times.
Kaluza powers smart charging plan within Volvo Cars app in world first
Volvo electric vehicle drivers can now enrol in OVO's Charge Anytime smart charging plan from inside the Volvo Cars app, at 7p/kWh with 2,700 miles of free charging for enrolling.
Good Energy launches Heat Pump tariff
Good Energy has launched a fixed heat pump tariff with a 10p per kWh off-peak rate, open to all households, according to a battery tariff guide that also records the rate has since risen.
Social tariff working group established
The Scottish Government set up a social tariff working group in November 2024 to co-design a deliverable policy with suppliers and third sector organisations, and sent its recommendations to the UK Government in March 2025.
- October 2024
EDF and Pod Point launch EV charger and tariff bundle
EDF and Pod Point have launched a combined home charger and EV tariff bundle that cuts the upfront charger payment to £499 and spreads the rest over two years.
2024 Flexi Product variable charges change at 1 October 2024
ScottishPower has published revised Flexi Product component rates taking effect from 1 October 2024, with balancing services costs rising and capacity market and smart meter costs falling.
Energy price cap set at £1,717 for typical annual consumption
Ofgem's quarterly price cap for October to December 2024 is set at £1,717 a year for a typical dual fuel household, 10 per cent above the previous level and 38 per cent above winter 2021-22.
Good Energy launches FIT REGO Boost
Good Energy launched FIT REGO Boost in October 2024, a scheme that pays small solar generators for the renewable certificates their panels produce, separate from feed-in tariff payments.
Ofgem minded to remove ban on acquisition-only tariffs from 1 October 2024
Ofgem has said it is minded to lift the ban on acquisition-only tariffs from 1 October 2024, prompting a coalition of consumer groups and suppliers to urge it to reconsider.
Public support for energy social tariff surges ahead of the Budget
Opinium polling for the Warm This Winter campaign puts public support for an energy social tariff at 75 per cent, up from 57 per cent before the General Election, ahead of the Budget.
- September 2024
Consumer Scotland responds to Ofgem standing charges options paper
Consumer Scotland has told Ofgem that shifting suppliers' fixed costs from standing charges to unit rates would penalise households with high essential energy use, including those in Scotland.
EDF launches cheapest energy-only fixed tariffs among major suppliers
EDF has launched a one-year fixed tariff at £1,649 and a two-year fixed tariff at £1,669, both below October 2024's £1,717 price cap, alongside a one-year tariff tracking £50 below the cap.
ScottishPower launches EV Optimise add-on for EV drivers
ScottishPower has launched EV Optimise, an add-on that smart charges electric vehicles at 9p per kWh day and night and credits savings back to the customer's electricity bill.
Share Energy launches as newest Northern Ireland electricity supplier
Share Energy, based in Belfast, launched in September 2024 as the newest electricity supplier in Northern Ireland, claiming it will share half of future profits with customers.
- August 2024
Ofgem to confirm actual October price cap level
Ofgem was due to publish the actual October to December 2024 price cap on 23 August, with analysts and campaigners expecting a rise of around 10 per cent for a typical household.
Ofgem publishes standing charges options paper
Ofgem has published an options paper on reducing domestic standing charges by £20 to £100 a year and asked suppliers to offer no or low standing charge tariffs, with feedback open until 20 September 2024.
Ofgem sets price cap for 1 October to 31 December 2024
Ofgem has set the energy price cap for 1 October to 31 December 2024 at £1717 a year for a typical Direct Debit household, a 10% rise, and opened a consultation on standing charges.
Cornwall Insight predicts October price cap rise for typical households
Cornwall Insight has predicted that the October price cap will rise by around 10 per cent, adding approximately £150 a year to the bills of a typical dual fuel household, with Ofgem due to confirm the level on 23 August.
Hypervolt releases beta of Octopus Intelligent Go support for v3 customers
Hypervolt has opened a limited beta of Octopus Intelligent Go support for owners of its Home 3 and Home 3 Pro chargers, with testing through August and wider rollout planned by the end of the year.
- July 2024
Consumer Scotland publishes response to Ofgem consultation on acquisition-only tariffs ban
Consumer Scotland has published its response to Ofgem's statutory consultation on the future of the ban on acquisition-only energy tariffs, dated 8 July 2024.
Energy Price Guarantee ceased applying to tariffs
The Energy Price Guarantee stopped applying to tariffs on 1 July 2024, ending the scheme that capped supplier rates and required landlords to pass on discounts to tenants.
Good Energy launches fixed EV tariff with Zapmap Premium benefit
Good Energy has launched a fixed electric vehicle tariff with a five-hour overnight rate of 7.4p per kWh and a free Zapmap Premium subscription, available from 1 July.
Octopus introduces third off-peak period for Cosy Octopus
Octopus Energy added a third off-peak window, 10pm to 12am, to its Cosy Octopus heat pump tariff in July 2024, giving eligible households eight hours of cheaper electricity a day.
- June 2024
Coalition writes to Ofgem urging it not to lift ban on acquisition-only tariffs
Which? and a coalition of energy firms and consumer groups have written to Ofgem urging it not to lift the ban on acquisition-only tariffs, which allow suppliers to offer cheaper deals to new customers only.
Cornwall Insight forecasts October 2024 price cap rise to £1,724
Cornwall Insight forecasts issued on 28 June 2024 point to the Ofgem price cap rising by more than £150 to £1,724 from October, ending the summer's small reduction.
OVO and Hypervolt launch Charge Anytime integration
Hypervolt has announced that its home EV chargers are now compatible with OVO's Charge Anytime add-on, which charges at 7p per kWh and can be controlled from the Charge Anytime app.
- May 2024
Ofgem confirms energy price cap for July to September 2024
Ofgem has confirmed the energy price cap will fall by 7% from 1 July to 30 September 2024, giving a typical dual fuel direct debit household an annual bill of £1,568.
NEA responds to DESNZ call for evidence on default energy tariffs
National Energy Action has told the government that the price cap's consumer benefits should be kept while reform tackles multi-rate meters and a social tariff is consulted on.
Zapmap suspends EV energy tariff comparison service
Zapmap has suspended its EV energy tariff comparison service, saying it will resume when appropriate, leaving drivers without one route to compare off-peak charging rates.
Ofgem publishes benchmark maximum charges for Charge Restriction Period 12b
Ofgem has published the regional benchmark maximum charges for gas and electricity under the default tariff cap for Charge Restriction Period 12b, with all values given exclusive of VAT.
- April 2024
EDF launches Essentials 1Yr May25 fixed tariff
EDF has launched Essentials 1Yr May25, a one-year fixed tariff priced at £1,580, which it says is £110 below the current price cap and the cheapest offered by any large supplier.
Non-MCS export application approved and exports live
A household whose solar installer was not MCS-registered has had its non-MCS export application approved by Octopus Energy, with exports going live on 11 April 2024.
2024 Flexi Product variable charges take their 1 April 2024 values
ScottishPower has published the component unit rates and standing charges that make up its Flexi Product variable costs from 1 April 2024, with a second set of values shown for 1 October 2024.
Energy Price Guarantee replaced by levelisation scheme
The Energy Price Guarantee's prepayment unit rate discount was replaced on 1 April 2024 by a non-volumetric payment levelisation scheme that shifts costs between payment methods.
Market Stabilisation Charge to be removed
The Market Stabilisation Charge, a temporary levy paid between suppliers when customers switch, is to be removed in April 2024, Energy UK has said in an explainer on price cap cost recovery.
OVO electricity standing charge rises to 60.31p per day
A customer on the OVO community forum reports their electricity standing charge rising from 43.39p per day in 2023 to 60.31p per day from 1 April 2024, and asks why.
Standing charges rise as unit costs fall slightly from 1 April
Electricity standing charges rise 13% and gas standing charges 6% from 1 April 2024, while unit costs fall slightly, as analysis puts energy firm profits at over £420 billion since the crisis began.
- March 2024
Market Stabilisation Charge expired
The Market Stabilisation Charge expired on 31 March 2024, removing a levy that suppliers could previously apply when a household switched away from them during the energy crisis.
Ofgem publishes discussion paper on the future of domestic price protection
Ofgem has opened a discussion on whether the default tariff price cap needs reform, seeking views by 10 May 2024 on how household price protection should work as the retail market changes.
Market Stabilisation Charge extension period ends
Ofgem has allowed the Market Stabilisation Charge to expire at the end of its extension period in March 2024, confirming no adjustment to the price cap for wholesale costs incurred between October 2022 and September 2023.
Ofgem publishes Future of domestic price protection discussion paper
Ofgem has published a discussion paper on the future of domestic price protection, asking whether the default tariff price cap should be reformed as the retail energy market changes.
OVO Charge Anytime beta in progress for Hypervolt chargers
Hypervolt has said it is working with OVO and Kaluza on a beta for OVO Charge Anytime, with news on next steps expected within weeks, alongside a new telemetry feature.
- February 2024
Utility Warehouse launches Fixed Saver 15 and Fixed 15 fixed energy tariffs
Utility Warehouse has launched two fixed energy tariffs priced below both the January and April 2024 price caps, with the cheaper option requiring customers to move two other services to the supplier.
Ofgem announces April-June 2024 price cap
Ofgem has set the April to June 2024 price cap, which the Resolution Foundation says will produce the second biggest percentage fall in consumer energy prices since the cap began in 2019.
Ofgem announces price cap level for 1 April to 30 June 2024
Ofgem has set the energy price cap for 1 April to 30 June 2024 at a typical dual-fuel annual bill of £1,690, a 12 per cent fall, with prepayment meters becoming the cheapest way to pay.
British Gas launches Price Promise tariff priced below Ofgem price cap
British Gas has launched a fixed-rate Price Promise tariff at £1,699 a year for average dual fuel use, promising to beat the Ofgem price cap until at least July.
Fixed-rate energy tariffs return to the energy market
Fixed-rate energy tariffs have started returning to the UK energy market, according to Home Energy Scotland, which says households should weigh contract length and exit fees before signing up.
Government applies prepayment meter discount
The government has applied a discount on prepayment meters since February 2024 so that customers are not financially penalised for being moved onto one.
Ofgem decided to extend the BAT for a further year
Ofgem decided in February 2024 to extend the ban on acquisition-only tariffs for a further year, citing residual risk in removing it and the Market Stabilisation Charge at the same time.
Price cap announcement applies discount to prepayment standing charges
The February 2024 price cap announcement applied a discount to prepayment standing charges, making prepayment slightly cheaper than standard credit for the first time.
- January 2024
Minimum Supply Prices from 1 February 2024 added
Government guidance for heat network support under the Energy Bills Discount Scheme was updated on 31 January 2024 to set out the Minimum Supply Prices applying from 1 February 2024.
Warm This Winter releases third Tariff Watch report on standing charges
Warm This Winter's third Tariff Watch report identifies 14 obscure charges inside the Ofgem price cap that it says have pushed electricity standing charges up 119 per cent since winter 2020/21.
Coalition members call for social tariff in Spring Budget
End Fuel Poverty Coalition members called in January 2024 for a social tariff to be included in that year's Spring Budget, as part of a long-running campaign for energy tariff reform.
New UK-EU Rules of Origin scheduled to begin
The Society of Motor Manufacturers and Traders has warned that tougher UK-EU Rules of Origin begin on 1 January 2024, with electric vehicles traded both ways facing possible tariffs.
Good Energy launches Export Only tariff
Good Energy launched Export Only in January 2024, a 4p per kWh export tariff open to any household with a smart meter and a certified renewable installation, without requiring a Good Energy import deal.
Octopus Energy launches UK's first vehicle-to-grid tariff
Octopus Energy launched Octopus Power Pack, described as the UK's first vehicle-to-grid tariff, at the beginning of 2024, following a vehicle-to-grid trial with National Grid ESO in 2022.
Ofgem price cap rises in January 2024
A quarterly Tariff Watch report from the Warm This Winter coalition says 14 obscure charges, passed through standing charges, are keeping electricity bills at record levels after January's price cap rise.
Price cap expected to rise around 1% in January 2024
Cornwall Insight expects the Ofgem price cap to rise by around 1% in January 2024 after European gas prices rose again, taking a typical annual bill to about £1,932.