DEALS & SAVINGS · THE GUARDIAN / OFGEM
£50 - £110/year savings
Deadline: 2026-10-31
Following the 1 Oct 2026 Ofgem price cap rise to £1,723/year, competitive fixed energy deals undercut standard variable rates by 3% - 7% ahead of winter peak demand.
On 1 October 2026, the Ofgem domestic energy price cap for England, Scotland, and Wales increased by 4% to £1,723 per year for a typical dual-fuel household paying by Direct Debit (electricity unit rate: 26.32p/kWh with a 54.83p daily standing charge; gas unit rate: 7.97p/kWh with a 29.68p standing charge). Wholesale gas volatility wiped out the benefit of the government's temporary domestic electricity VAT holiday.
Energy analysts and consumer advocates forecast additional upward rate pressure for the January 2027 quarter. In response, major suppliers (including Outfox the Market, E.ON Next, and EDF) are offering fixed 12-month tariffs that undercut the standard variable cap by 3% to 7% with modest or zero exit penalties.
For a cost-conscious household in Barking, auditing standing charges and securing a fixed rate before the onset of cold winter temperatures locks in predictable monthly bills through the crucial visa savings period.