Ofgem published the benchmark maximum charges for the Charge Restriction Period 12b on 1 May 2024. The document sets out regional figures for gas and electricity under the default tariff cap, covering three payment methods: other payment method, standard credit and prepayment1.
All values in the document are exclusive of VAT, which suppliers apply to consumers' bills1. The licence requirements that set out suppliers' obligations for adhering to the default tariff cap (SLC28.AD) specify the benchmark annual consumption level that should be used to set the level of default tariffs, and the benchmark annual consumption levels published here are exclusive of VAT1. The gas figures use a benchmark annual consumption of 12,000 kWh, and the electricity figures use 3,100 kWh for single-rate metering and 4,200 kWh for multi-register metering1.
For gas under the other payment method, the annual figure at 12,000 kWh ranges from £718.00 in East Midlands to £766.41 in Southern Western. The nil kWh figures, which reflect standing charges, range from £107.00 in Southern to £111.34 in London1. Under standard credit, the 12,000 kWh gas figure ranges from £764.37 in East Midlands to £815.77 in Southern Western, with nil kWh figures between £122.44 and £122.541. Under prepayment, the 12,000 kWh gas figure ranges from £694.13 in East Midlands to £748.96 in Southern Western1.
For electricity under the other payment method, the single-rate metering figure at 3,100 kWh ranges from £833.85 in East Midlands to £918.79 in N Wales and Mersey, and the multi-register figure at 4,200 kWh ranges from £1,008.59 in East Midlands to £1,100.79 in N Wales and Mersey1. Under standard credit, the single-rate figure at 3,100 kWh ranges from £887.39 in East Midlands to £974.98 in N Wales and Mersey, and the multi-register figure at 4,200 kWh ranges from £1,072.11 in East Midlands to £1,166.73 in N Wales and Mersey1. Under prepayment, the single-rate figure at 3,100 kWh ranges from £811.19 in East Midlands to £895.92 in N Wales and Mersey1.
A selection of the gas figures under the other payment method is set out below.
| Region | Nil kWh | 12,000 kWh |
|---|---|---|
| North West | £109.83 | £726.84 |
| Northern | £109.70 | £734.33 |
| Yorkshire | £109.62 | £732.81 |
| Northern Scotland | £109.79 | £726.55 |
| Southern | £107.00 | £742.30 |
| Southern Scotland | £110.04 | £726.81 |
| N Wales and Mersey | £110.78 | £733.86 |
| London | £111.34 | £745.54 |
| South East | £107.56 | £725.63 |
Ofgem states that the data used in the document is not intended for use as an index by reference to which the amount payable under a financial instrument or financial contract, or the value of a financial instrument, is determined, nor as an index used to measure the performance of an investment fund1.
"All values are exclusive of VAT1 which is applied by suppliers to consumers bills."
Why it matters for households
The benchmark maximum charges are the ceiling figures that sit behind the energy price cap, which limits what suppliers can charge on default tariffs. Because the figures are regional, a household's unit rates and standing charges by region determine where it sits within the range. The gap between the lowest and highest gas annual figures under the other payment method is £48.41, and for electricity single-rate metering at 3,100 kWh it is £84.941.
The three payment methods carry different totals. Prepayment gas figures are lower than standard credit figures in every region listed, and standard credit figures are the highest of the three1. Standing charges, shown as the nil kWh column, vary by region and are highest in London for gas under the other payment method at £111.341. For a household's energy independence, these figures set the floor cost of being connected before any energy is used, and the regional spread means identical consumption can produce different bills depending on where a home is.
What happens next
The document does not state an end date for Charge Restriction Period 12b or the charges that follow it. No further steps are set out in the published figures1.