The assessment period for the first 2026 energy price cap ended on 17 February 2026, according to Uswitch, which reports that the cap itself takes effect on 1 April 20261. The announcement of the level is expected at the end of February1.
Because the window has closed, wholesale market activity after 17 February will not count towards the cap that applies from April. Uswitch states:
"the assessment period for this price cap ends on 17 February 2026, so anything that happens in the wholesale market between 18 February and the announcement date won't count towards this price cap"
The cap currently stands at £1,7581. British Gas's latest prediction, as reported by Uswitch, is that the April level will be set at around £1,6451. Uswitch says it is "almost certain" the cap will come down, attributing this in part to the government's Autumn Budget 2025 pledge to take an average of £150 off energy bills from 1 April 2026 by removing certain green levies from customers' bills1. Uswitch notes this will not be a blanket £150 reduction, and that the amount saved will depend on individual usage1.
Wholesale prices remain a significant influence on the cap level. Uswitch reports that wholesale energy prices "have been high in recent weeks due to global events", and that these higher prices will likely offset some of the reduction1. The interaction between the levy change and wholesale costs means the final figure has not been reported.
| Item | Figure |
|---|---|
| Current price cap | £1,7581 |
| British Gas prediction for April 2026 | Around £1,6451 |
| Average reduction pledged from 1 April 2026 | £1501 |
| Assessment period end | 17 February 20261 |
| Cap takes effect | 1 April 20261 |
Why it matters for households
The price cap sets the maximum a supplier can charge per unit of gas and electricity, and the standing charge, for households on a default or standard variable tariff. It is not a cap on the total bill: a household using more energy than the typical figure will pay more than the headline number, and one using less will pay less. The reasons a bill can come in above the cap figure include usage, region and payment method.
For a household's energy independence, the April level matters because it resets the default price for anyone who has not moved to a fixed deal. The gap between the current £1,758 and the predicted £1,645 is a forecast, not a decision, and the final number depends on wholesale costs already locked into the assessment window. Households on the cap do not need to apply for it; it applies automatically to default tariffs, as set out in the guidance on whether any action is needed to be covered. The wider context of how bills relate to energy independence is covered separately.
What happens next
Ofgem is expected to announce the April 2026 cap level at the end of February 20261. The new level then applies from 1 April 20261. Uswitch notes that cheaper deals are already available on the market for customers on standard variable tariffs, and that any switch would take effect before the April cap change1. The history of cap levels and announcement dates sets out how previous periods have run.