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Energy price cap

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Definition: Ofgem's quarterly cap on the unit rate and standing charge default-tariff suppliers can charge for gas and electricity in England, Wales and Scotland.

The cap is per-unit, not a maximum bill — what you pay still depends on how much energy you use. It is reset every three months (January, April, July, October). Northern Ireland is regulated separately by the Utility Regulator.

Primary source: ofgem.gov.uk

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