The Department for Energy Security and Net Zero added Energy Price Guarantee (EPG) regional rates and standing charges for prepayment meters for October to December 2023 to its published rates page on 25 August 20231. The page, first published on 7 October 2022, sets out the EPG unit rates for standard variable tariffs and applies to England, Scotland and Wales1.
The addition sits alongside earlier sets of rates on the same page. Prepayment meter regional rates for July to September 2023 were added on 26 May 2023, and rates for April to June 2023 were added on 15 March 2023, when the page also recorded that the EPG had been extended until the end of June 20231. Rates for January to March 2023 were added on 29 November 20221. The page was updated again on 24 November 2023 with prepayment meter regional rates and standing charges for January to March 20241.
The published rates are described as the maximum unit rates suppliers can charge for tariffs that are subject to the Ofgem price cap1.
"These are the maximum unit rates suppliers can charge for tariffs that are subject to the Ofgem price cap. Suppliers can also charge less than these rates."
The page states that the EPG will remain in place until the end of March 20241. The specific unit rates and standing charges for each region for October to December 2023 are held in the linked document on the page; the figures themselves are not reproduced in the page text1. Northern Ireland is not covered by this publication, which applies to England, Scotland and Wales1.
| Document added to the page | Date added |
|---|---|
| Prepayment meters: regional rates and standing charges, October to December 2023 | 25 August 2023 |
| Prepayment meters: regional rates, July to September 2023 | 26 May 2023 |
| Regional rates, April to June 2023 | 15 March 2023 |
| Regional rates, January to March 2023 | 29 November 2022 |
Why it matters for households
Prepayment meter customers pay for energy before they use it, so the rate at which each unit is charged, and the fixed daily standing charge, determine how quickly credit on the meter is used. Because the EPG sets a maximum rather than a fixed price, two households on the same payment method in the same region can face different rates if their supplier charges below the cap1. Regional differences mean the same consumption can cost different amounts depending on where a home is1. For a household's energy independence, what matters is the relationship between the rate, the standing charge and the amount of credit held on the meter: a higher standing charge draws down credit even in periods of low use. The rates for October to December 2023 sit within a scheme the page says runs to the end of March 20241. How the rates compare with those for other payment methods is set out in the price cap rates by payment method, and the scheme itself is covered in the Energy Price Guarantee.
What happens next
The page records that the EPG will remain in place until the end of March 20241. It was subsequently updated on 24 November 2023 with prepayment meter rates and standing charges for January to March 20241. No further steps beyond those dates are set out on the page1.