Wondering how the July 2026 price cap increase affects you? Check out our handy guide below.
Q: Why is the price cap changing from 1 July 2026?
A: The main factor for the price increase is an increase in wholesale gas prices. The main driver of this is ongoing conflict in the Middle East.
Q: What are the July 2026 price cap dates?
A: The prices set out in the July 2026 price cap are effective from 1 July 2026 to 30 September 2026.
Q: Who does the price cap apply to?
A: Customers on variable or default tariffs will see an increase to their energy bills. Price Cap Tracker tariffs are also affected by the price cap, although discounts on these tariffs can make the price change less severe.
With Outfox, customers can expect a price change on the following tariffs: Fox Standard Dual, Fox Standard Elec, Fox Standard Gas, Fox Paper Standard Dual, Fox Paper Standard Elec, and Fox Paper Standard Gas.
Customers on Outfox the Price Cap Tracker tariffs (all versions) will also see a price change.
Q: Does the price cap apply to fixed tariffs?
A: No – the price cap applies to variable tariffs only. If you’re on a fixed tariff, you may be paying a different amount to the price cap, in line with the fixed agreement you made at the time you began your tariff.
Q: Can suppliers charge less than the price cap?
A: Yes. Ofgem set the price cap as the maximum a supplier can charge you, but the cap is not a minimum. Suppliers can price their tariff as they choose, provided that the price cap is not exceeded.
Q: Is it better to stay on the price cap or switch tariffs?
A: It could be cheaper to switch your tariff or energy supplier, depending on your projected consumption. If there is a cheaper Outfox tariff available for you, we’ll provide you details on the first page of your bill. You can also log in to your online portal here (link https://portal.outfox.energy) and check if we have any cheaper deals available under the ‘Your tariffs’ section. Please note, it’s important to compare unit rates and standing charges against your existing tariff rather than comparing the amount you’re paying with the projected monthly payment amount.
Q: What happens if wholesale energy prices change?
A: If the price of wholesale energy increases or decreases, it will reflect in the price cap. Ofgem monitors the price of wholesale energy for 3 months before announcing the cap for each period, to ensure the charges are reflective of the cost to buy energy on the wholesale market.
Q: Could ongoing events cause the July 2026 price cap to change again before October?
A: No – the price cap will not be changed between 1 July 2026 and 30 September 2026. Any further changes to the wholesale price of energy will be reflected in the October 2026 price cap.
Q: Will switching supplier affect the price cap?
A: As the price cap affects all domestic suppliers, you can expect to pay a similar rate with any supplier if you switch to their variable tariff. However, fixed, smart and tracker tariffs may vary.