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Energy price cap January 2027: what to do now, and today's fixed deals

Figures and tariffs checked 14 November 2026, and may change. This is general information for Great Britain, not personal advice, and not a recommendation to switch. Northern Ireland has a different market and is not covered by the Ofgem cap.

Affiliate disclosure:

If you pay the default or standard variable rates for gas and electricity, the price cap that limits those rates is due to change on 1 January 2027. That does not automatically mean your bill will jump by a set amount, and Ofgem has not yet published the new rates. It does mean it is worth a calm look at your tariff now, so you are not making a rushed decision in late December.

This guide sets out what has been confirmed, what is still only a forecast, the fixed dual-fuel deals we could verify today, and the official help available if bills are a struggle. We do not use affiliate links on energy tariffs. All comparison and supplier links below are plain links, except one clearly labelled Octopus Energy referral at the end of the deals section.

What to do before 1 January

Ofgem has already confirmed that the next cap period runs from 1 January to 31 March 2027, and that it will announce the rates by 25 November 2026. You do not need to wait for that announcement to get your facts together, and you do not need to rush into a deal today either. A short checklist is enough:

1. Check what tariff you are on. Look at your bill or your supplier's app or website. If it says standard variable, default, flexible or "variable", you are on a cap-linked tariff and the new rates would apply from 1 January. If you are already on a fixed deal, the January change will not affect you until that fix ends. About 35% of households, around 11 million, were on fixed tariffs when Ofgem announced the October cap.
2. Take a meter reading and note your annual usage, unit rates and standing charges. You will need these to get a fair quote. Your usage is almost certainly different from the "typical" figures used in headlines.
3. Compare any fixed deal against the cap, not just against last month's bill. Use the current cap first. Once Ofgem publishes the January rates, compare against those too. A fix that looks a little dearer than today's cap can still make sense if the cap rises, and the reverse is also true if prices later fall. Check the exit fee and the length of the contract before you agree.
4. Remember that a switch usually takes about 5 working days. That is the Ofgem rule, and if it takes longer your new supplier must pay you £40. You also have 14 days to cancel if you change your mind. Christmas Day 2026, the Boxing Day bank holiday on Monday 28 December, and New Year's Day 2027 are not working days, so a switch started in the last week of December can run into January. If you want a new deal in place before 1 January, do not leave it until then.

If you are already on a competitive fix, you probably do not need to do anything. Leaving a fix early usually means paying the exit fee, except in the last 49 days of the contract.

What the price cap is now

From 1 October to 31 December 2026, the cap is £1,723 a year for a typical dual-fuel household paying by Direct Debit. That is £60, or 4%, higher than the previous period (1 July to 30 September 2026), when the same typical bill was £1,663. Ofgem announced this on 26 August 2026. The £1,723 figure is not a maximum total bill. It is what a typical household would pay over a year at the capped unit rates and standing charges, if those rates stayed the same for 12 months. If you use more energy, you pay more; if you use less, you pay less.

Ofgem's GB average Direct Debit rates for this period, including 5% VAT on gas and no VAT on electricity, are:

Rates vary by region, payment method and meter type. There is currently no VAT on domestic electricity from 1 October 2026 to 31 March 2027; gas still carries 5%. Ofgem says costs cannot be compared directly with earlier periods because of that VAT change. The "typical" household in these figures now uses 2,500 kWh of electricity and 9,500 kWh of gas a year, after Ofgem updated those values in July 2026.

Official sources: Ofgem press release, 26 August 2026, and Ofgem unit rates and standing charges. You can also look up the cap for your region on Ofgem.

What might happen in January (forecasts only)

The January to March 2027 cap had not been announced when we checked on 14 November 2026. Ofgem will publish it by 25 November 2026. Until then, every January figure you see is a forecast, and forecasts move as wholesale prices move.

• Cornwall Insight, in a 30 September 2026 press release, forecast £1,999 a year for a typical dual-fuel Direct Debit household in January to March 2027. That would be £276, or 16%, above the current £1,723 cap. The figures were calculated from market prices at the close on 28 September 2026. Cornwall Insight's predictions page, last updated 13 November 2026, still showed the same £1,999.28 figure and said its next update would be 18 November 2026. It also published illustrative average rates of 30.28p per kWh and £0.55 a day for electricity, and 9.76p per kWh and £0.31 a day for gas. These are forecasts, not Ofgem's cap.
• MoneySavingExpert, using the average of the latest predictions from British Gas, EDF and E.ON Next in the week beginning 9 November 2026, put the January cap at £2,182 a year, which it described as 26.6% above the current cap. The same table forecast £2,197 for April to June 2027 and £2,012 for July to September 2027, all labelled as "crystal ball-gazing". MSE's page was updated on 10 November 2026.

The later supplier average is higher than Cornwall Insight's September forecast, which is a reminder that these numbers can change before Ofgem confirms the official rate. We will update this guide after that announcement.

Fixed gas and electricity deals we checked today

A fixed deal locks your unit rates and standing charges for a set time, usually 12, 18 or 24 months. It does not lock your total bill: if you use more energy, you still pay more. Fixed tariffs are not covered by the price cap. If the cap falls below your fixed rates, you will not automatically get the lower price, unless the tariff has a specific "fall" feature in its terms.

Prices vary by region, usage, payment method and meter, and suppliers often replace a tariff version within days. The table below is a snapshot, not a personal quote. Where we give a pound-a-year figure, we say which region and which source it came from. If we could not verify a number today, we have left it out.

MoneySavingExpert, checking typical use (2,500 kWh of electricity and 9,500 kWh of gas, monthly Direct Debit) on 14 November 2026, said the cheapest standalone fix it had spotted was Fuse Energy November 2026 Fixed (24m) V7: a 24-month dual-fuel tariff, 3.4% more than the current cap, with a £50 exit fee per fuel. It is open to new and existing customers, does not require a smart meter, and needs payment by variable Direct Debit. MSE also noted £20 dual-fuel cashback if you switch through its Cheap Energy Club. We have not converted that 3.4% into a pound figure here, because MSE's comparison may include that cashback, and your region will change the result.

For a dated set of pound figures from larger and mid-size suppliers, the EnergyPlus tariff tracker on 14 November 2026 priced live deals for a typical Direct Debit, dual-fuel, single-rate household in London at the same 2,500 / 9,500 kWh usage. On that snapshot the regional capped standard variable bill was £1,706 a year, a little below the £1,723 national typical figure. Annual costs below are unit rates times usage, plus 365 days of standing charges, before any sign-up credit.

E.ON Next's own tariff pages confirm a Next Fixed 12-month deal with a £50 exit fee per fuel (£100 for dual fuel), cheaper rates if you pay by Direct Debit, and online account management. Its homepage also advertises a 24-month Next Fixed option. Octopus's tariffs page confirms 12-month and 18-month Fixed Octopus deals, and says exit fees might apply. British Gas's owner, Centrica, has described Fix and Fall as a two-year fix that can automatically lower your rates after 12 months if the Ofgem cap has fallen, by up to £50 on an average dual-fuel bill in the version it announced; check the review date and cap in the tariff information label on your quote, because the small print can change between versions. EnergyPlus lists the November 2026 version's exit fee as £125 per fuel.

OVO was not in that London EnergyPlus fixed-deal snapshot. Energy Review, using Uswitch prices for a typical East Midlands household on 9 November 2026, listed OVO 1 Year Fixed 29 October 2026 at £2,031 a year, for 12 months, with a £100 exit fee. OVO's own fixed-tariffs page, when we checked, advertised a 1 Year Fixed deal with a £50 exit fee per fuel and a 2 Year Fixed deal with a £95 exit fee per fuel, but it did not publish a single national annual price without a postcode quote, so we have not invented one. Treat the £2,031 figure as an East Midlands snapshot from 9 November, not a today's-London price.

Some smaller suppliers were cheaper than the big-name deals, with extra conditions. Energy Review, again on 9 November 2026 for the East Midlands, put Utility Warehouse's UW Fixed Saver 101 at £1,803 a year, but that tariff needed energy plus at least two other UW services (such as mobile, broadband or insurance), a smart meter or an agreement to have one installed, an 11-month term and a £150 exit fee. The energy estimate did not include the cost of those other services. Outfox Energy's Fix'd Dual Oct26 18-month and 24-month Family Advantage+ tariffs were listed at £1,810 a year, with exit fees of £150 and £200. Those figures are a few days older than the London table above and are for a different region, so use them only as a prompt to get your own quote.

If you do decide to join Octopus, you can start from its own site at octopus.energy/tariffs, or use our referral link: https://share.octopus.energy/pale-ram-798. This is a referral link: if you join Octopus through it, Deal Whizz UK may receive a referral payment. Have a look at the tariffs and terms on Octopus's own site before you decide.

Compare against the cap, and check exit fees

Do not pick a deal from a national table alone. Get a quote for your postcode and usage, then compare it with the current cap and, once it is published, with the January cap. Look at the exit fee, the contract length, and whether you would be comfortable staying for the full term if cheaper deals appear later. Under Ofgem rules you can usually leave a fix without an exit fee in the last 49 days.

A good starting point is a comparison site, or the supplier directly. Plain links, with no referral fees from us:

• MoneySavingExpert: should I fix or stay on the cap?, including its Cheap Energy Club comparison
• Uswitch: compare fixed energy deals
• Ofgem: how to switch your home energy supplier

You cannot usually switch if you have been in debt to your supplier for more than 28 days, unless you have a prepayment meter and the debt is within the limits Ofgem sets. If you owe money and are unsure, get advice from Citizens Advice before you try to move.

Free help with bills

If you are finding bills hard to pay, contact your supplier first. Ofgem says they must help if you ask. They can agree a payment plan or a payment break, review what you are paying, and tell you how to apply to their hardship fund or grant scheme.

• Warm Home Discount: a one-off £150 off your electricity bill (or, with some suppliers, your gas bill) for winter 2026 to 2027. In England and Wales you may qualify if, on 23 August 2026, you received Pension Credit, income-related Employment and Support Allowance, Housing Benefit or Universal Credit, and you or your partner was named on the electricity bill. Most eligible households get it automatically. In Scotland you may need to apply to your supplier. It is not available in Northern Ireland, where the Affordable Warmth scheme applies instead. Official page: gov.uk/the-warm-home-discount-scheme.
• Priority Services Register: a free extra-help list held by your supplier and network operator. You can ask to join if you have reached State Pension age, are pregnant, have young children, struggle with speaking or reading English, or live with a disability or long-term condition, including one that needs powered medical equipment. Help can include priority support in an emergency, advance notice of planned power cuts where possible, bills in large print or braille, and a password scheme for visits. If you switch supplier, you need to join the new one. Official page: Ofgem: join the Priority Services Register.
• Supplier hardship funds: ask your own supplier first. Some funds, including the British Gas Energy Trust, also accept applications from customers of other suppliers, usually after you have had debt advice. Rules, income limits and grant amounts vary, so use the supplier's own page or the links in our help with energy bills section on the homepage.

Citizens Advice can talk you through grants and benefits, and MoneyHelper offers free debt advice. In England, the Citizens Advice consumer helpline is 0808 144 8844.

Quick ways to use a little less

The Energy Saving Trust's advice, which is a good place to start, is to heat your home to the lowest temperature that is comfortable for you, often somewhere between 18°C and 21°C, and to use a programmer so you are not heating empty rooms. Thermostatic radiator valves let you keep spare rooms cooler than the rooms you use most. Draught-proofing gaps around doors, windows and floors can also cut heat loss, but do not block trickle vents, ventilation grilles or anything needed for a safe airflow to a fire or boiler. More detail: Energy Saving Trust: using your heating and draught proofing.

A heated throw or an electric underblanket can also warm one person for a few pence an hour, rather than heating the whole room. We have a short list of current UK deals in our Beat the cold for less guide.

If you have an electric car, solar panels or a home battery, a standard variable tariff often wastes some of what that kit can do. Our EV, solar and battery tariff comparison sets out the rates we could verify and which combinations actually work together. We also have guides to plug-in (balcony) solar and powering your home from an electric car. Those are only worth it in particular situations, and the worked examples in those guides are estimates.

FAQ

When does the energy price cap change?

Ofgem updates the cap every three months. The current cap runs from 1 October to 31 December 2026. The next period starts on 1 January 2027 and runs to 31 March 2027. Ofgem has said it will announce those rates by 25 November 2026. The cap only applies if you are on a default or standard variable tariff. If you are already on a fixed deal, the cap change does not affect you until that fix ends.

Has Ofgem announced the January 2027 energy price cap?

Not when we checked on 14 November 2026. Ofgem will announce the cap for 1 January to 31 March 2027 by 25 November 2026. Until then, any January figure you see is a forecast, not the official rate. The current cap, for 1 October to 31 December 2026, is £1,723 a year for a typical dual-fuel household paying by Direct Debit.

Should I fix my energy tariff before January?

This is information, not personal advice, and it depends on your usage, region, and whether you are already on a fix. If you are on a standard variable tariff, the new cap rates would apply from 1 January 2027 once Ofgem sets them. Many fixed deals we checked on 14 November 2026 cost more than the current cap, but could work out cheaper if the cap rises and stays higher. Compare any quote with the current cap and, once it is published, with the new cap, and check the exit fee and contract length. Prices vary by region and usage.

How long does it take to switch energy supplier in the UK?

Ofgem says your new supplier must complete the switch within 5 working days. If it takes longer, the new supplier must pay you £40 automatically. You also have 14 days to cancel if you change your mind. Christmas and New Year bank holidays do not count as working days, so a switch agreed in late December can run into January. If you want a new deal in place before 1 January, do not leave it until the last week of December.

What help is available if I cannot pay my energy bills?

Contact your supplier first. Ofgem says they must help if you ask, and can offer a payment plan, a payment break or access to a hardship fund. Eligible households can get a one-off £150 Warm Home Discount off their electricity bill. You can also join your supplier's free Priority Services Register if you need extra support, for example if you have reached State Pension age, are pregnant, have young children, or live with a disability or long-term condition. Citizens Advice and MoneyHelper offer free advice.

Do fixed energy deals have exit fees?

Most fixed deals charge an exit fee if you leave before the end of the term. The amounts we saw on 14 November 2026 were often £50 to £125 per fuel, so £100 to £250 for dual fuel, though some deals have no exit fee. Under Ofgem rules, suppliers cannot charge an exit fee if you switch in the last 49 days of a fixed contract. Always read the tariff information label on your quote.

Sources

Cap figures, forecasts and tariff prices were read from the linked pages on 14 November 2026 (Europe/London). Tariff versions are replaced often, and your quote will differ from the snapshots below.

1. Ofgem: Energy price cap will rise by 4% from October 2026 (26 August 2026)
2. Ofgem: Changes to the energy price cap between 1 October and 31 December 2026
3. Ofgem: Energy price cap unit rates and standing charges
4. Ofgem: Switch your home energy supplier
5. Ofgem: Get help with your energy bills
6. Ofgem: Join your supplier's Priority Services Register
7. Cornwall Insight: 16% price cap rise forecast in January (30 September 2026)
8. Cornwall Insight: Default tariff cap predictions (page last updated 13 November 2026)
9. MoneySavingExpert: Should I fix my energy or stay on the Price Cap? (updated 10 November 2026; cheapest-fix table correct as of 14 November 2026)
10. EnergyPlus tariff tracker (updated 14 November 2026, London typical-use snapshot)
11. Energy Review: cheapest fixed energy tariffs, November 2026 (East Midlands, Uswitch data, 9 November 2026)
12. E.ON Next: tariffs and fixed tariffs
13. Octopus Energy: tariffs
14. OVO Energy: fixed tariffs
15. Centrica: British Gas launches new Fix & Fall tariff
16. Uswitch: fixed energy deals
17. GOV.UK: Warm Home Discount Scheme
18. GOV.UK: Warm Home Discount eligibility statement, England and Wales, 2026 to 2027
19. Energy Saving Trust: the most economical ways to use your central heating
20. Energy Saving Trust: draught proofing

Back to this week's deals · Energy section · EV, solar and battery tariffs · IOG and your home battery · Heat pump tariffs · Beat the cold for less · Smart plugs · Electricity monitors · Draught-proofing under £20 · Plug-in solar guide · Power your home from your EV