Energy Price Cap January 2027: When Ofgem Announces It and What to Do Before 1 January

If you pay for gas and electricity in Great Britain, the next date to know is 25 November 2026. According to Uswitch, Ofgem will announce the price cap for 1 January to 31 March 2027 on or before that day. The current cap, for 1 October to 31 December 2026, is £1,723 a year for a typical household paying by Direct Debit. Forecasters expect the next one to be higher, but nobody knows by how much yet. Here's what that means and what to do before the new rates start.

The dates to put in your diary

Uswitch lists these dates for the next two caps:

• Assessment window for the January cap: 19 August to 17 November 2026.
• Announcement of the January to March 2027 cap: on or before 25 November 2026.
• New rates start: 1 January 2027.
• Announcement of the April to June 2027 cap: on or before 23 February 2027.

The cap is announced once a quarter, so there's a gap of about five weeks between the announcement and the change, which is enough time to act.

What the price cap is, and what it isn't

The cap limits the price per unit of gas and electricity and the daily standing charge on standard variable tariffs. The headline figure, £1,723, is for a typical household. Your own bill depends on how much energy you actually use, so a rise of a certain percentage in the cap does not mean your bill rises by exactly that much.

People on a fixed deal are not affected by the cap until the deal ends. Uswitch notes that when a fixed deal finishes you roll onto the standard variable tariff, which is the one the cap applies to.

How big could the rise be?

It isn't confirmed. Uswitch, in an article updated on 21 October 2026, says the cap is predicted to rise by about 26%, based on the average of forecasts from British Gas, EDF and E.ON, and calls an increase "all but certain". Another analyst, Cornwall Insight, has suggested a smaller rise of around 16%. The forecasts differ because they use different assumptions about wholesale prices.

Treat any number as a guess until Ofgem publishes the real figure on or before 25 November.

A short checklist before 1 January

• Compare fixed deals when the announcement lands. Uswitch recommends considering a fixed deal for price certainty, but check exit fees and compare the unit rate and standing charge, not just the headline cost.
• Check when your current fixed deal ends. If it ends in the next few months, you will roll onto the standard variable rate unless you choose something else.
• Take a meter reading on 31 December or 1 January. This is practical advice rather than an official rule: a reading close to the changeover helps your supplier bill the old rate and new rate on the right days if you are on estimated bills.
• Check support you may qualify for. Uswitch mentions the Warm Home Discount, Winter Fuel Payment and Cold Weather Payment. Eligibility rules vary, so check the government pages.
• Check your Direct Debit. If it was set low, it may be worth reviewing after the new rates start.

Frequently asked questions

When is the January 2027 energy price cap announced? Ofgem announces it on or before 25 November 2026, and it takes effect on 1 January 2027.

What is the current price cap? £1,723 a year for a typical household paying by Direct Debit, for 1 October to 31 December 2026.

Will my bill rise by the same percentage as the cap? Not necessarily. The cap is based on a typical amount of usage, and your bill depends on your own usage and tariff.

Does the cap affect me if I'm on a fixed deal? Not until the fixed deal ends. After that you move to a standard variable tariff, which is capped.

Should I fix my energy deal before the announcement? That's a personal decision and nobody can predict the market. Compare deals before and after, and read the exit fees.

How ReminderIt helps

There are three dates here and none of them has a bill attached to it, which makes them easy to miss. ReminderIt calls your phone at the time you choose and sends a WhatsApp message with Done and Snooze buttons.

Message ReminderIt on WhatsApp something like "Remind me on 25 November at 6pm to check the new energy price cap" or "Remind me on 31 December at 4pm to take the meter readings". There's a 7-day free trial with no card, then it's $7/month.