Why both figures appear
From 1 July 2026, you may have seen the energy price cap reported as £1,663 in some places and £1,862 in others. Both figures come from Ofgem. Neither is a mistake. They're answering slightly different questions.
What changed on 1 July
Alongside the quarterly price cap update, Ofgem revised the Typical Domestic Consumption Values it uses to translate unit rates into a single headline bill figure. These values are an estimate of how much gas and electricity an average household uses in a year, and Ofgem updates them periodically to keep that estimate realistic. This time, the assumption dropped from 2,700 kWh of electricity and 11,500 kWh of gas down to 2,500 kWh of electricity and 9,500 kWh of gas, a fall of around 7% for electricity and 17% for gas compared with the last review in October 2023.
The two figures explained
£1,862 is the price cap calculated against the old, higher consumption assumption. It's the figure that lines up with how every quarter back to 2019 has been calculated, so it's the right number for comparing this quarter against last quarter or against previous years on a like for like basis.
£1,663 is the price cap calculated against the new, lower consumption assumption. Ofgem has confirmed this is the new headline figure from 1 July onwards, and it's the number most suppliers are now quoting as the current cap.
Both describe exactly the same unit rates and the same standing charges. The only thing that differs is how much energy use Ofgem assumes when turning those rates into one total figure.
What it means for your actual bill
Neither £1,663 nor £1,862 is what you'll personally pay, unless your household happens to use exactly the assumed amount. Your real bill depends on your own usage at the unit rates the cap sets, not on either headline number. If you want a figure based on your actual usage rather than an industry average, our energy usage estimator and annual bill estimator use your own numbers instead of Ofgem's typical household assumption.
Price cap by payment method, 1 July 2026
The table below uses Ofgem's updated typical consumption assumptions. Figures show the previous quarter level rising to the current quarter level, with the approximate percentage rise.
Typical annual dual fuel bills under new consumption assumptions
| Payment method | Previous quarter | From 1 July 2026 | Rise |
|---|---|---|---|
| Direct debit | £1,477 | £1,663 | 13% |
| Standard credit | £1,599 | £1,796 | 12% |
| Prepayment meter | £1,439 | £1,620 | 13% |
| Economy 7, direct debit | £993 | £1,039 | 5% |