What the July price cap means for you
There’s still time to fix your prices below the new July price cap
Fix your tariff and save by joining the only energy supplier that lets you choose when you switch on half-price electricity.5
What you need to know: the energy price cap is going up from 1stJuly 2026. We recommend checking if you’re currently on a fixed or a Standard variable tariff and reviewing your available options. You can check or change your tariff in your online account or in the ScottishPower App.
Ofgem announced on 27thMay that the energy price cap is going up in July, reflecting the ongoing pressures in the energy market due to the conflict in the Middle East. How this increase affects your energy bills will depend on your choice of tariff.
Ofgem sets a new price cap every three months, in January, April, July, and October, which sets a limit on the amount that energy suppliers can charge customers on standard variable tariffs for gas and electricity.
With the energy price cap going up to £1,862 on 1stJuly 2026, now’s a good time to review your choice of tariff. Right now, we’re predicting that the price cap could increase again in October2– but it’s important to remember that there’s still a lot of uncertainty in global energy markets. While higher wholesale energy costs have resulted in an increase to the July price cap, we don’t know yet if prices will continue to increase for the rest of the year.
If you’re affected by the new price cap, we’ll be in touch between 9th and 16th June with more information.
Will the new price cap affect my fixed price tariff?
No. If you’re on a fixed price tariff already, your energy prices will stay the same for the duration of the fixed term and won’t be affected by the new July price cap.
Will the new price cap affect my standard variable tariff?
Yes. Your energy prices will go up when the new price cap comes into effect on 1stJuly 2026. The exact increase to your energy bills depends on how much energy you use and how you pay.
Will the new price cap affect my Cap Tracker tariff?
No. If you’re on a cap tracker tariff, your prices will continue to stay below the new price cap level until your tariff ends.
Will the new price cap affect my Flexi tariff?
If you’re on a Flexi tariff, the fixed price part of your tariff is not affected by the new price cap level, but the variable part will continue to be reviewed quarterly until your tariff ends.
Should I fix my tariff?
Fixing your tariff now would protect you from the price cap increase in July and any further increases for the duration of your fixed term. As of 27thMay we’re predicting that the October 2026 price cap could increase again2but please note that these predictions can change as new data arrives.
As a reminder, if you fix your tariff with ScottishPower now and we launch a better fixed tariff later on, you can switch to it without paying exit fees.
If you’ve been shopping around for a fixed price tariff, you might’ve noticed that they’re priced higher than they were at the beginning of the year. That’s because suppliers buy energy in advance for fixed tariffs, and wholesale energy prices are higher right now.
Other ways you can save with ScottishPower
With the price of energy feeling uncertain right now, we wanted to remind you of all the ways you can save money on your energy bills as a ScottishPower customer.
Earn points and save with My ScottishPower
My ScottishPower3is our rewards club that could help you save just for being a customer. Over half a million customers are already saving on their energy bills - you’ll earn points every three months, and every point means money off your bill.
Sign up to Power Saver4and get half-price electricity5at times that suit you
If you have a smart meter, you can choose when you switch on half-price electricity at selected times throughout the whole week by signing up to Power Saver.
Looking ahead
The increase to the price cap in July is now confirmed, and while another increase is predicted for October, we can’t say for sure until closer to the time. That’s because there could be changes in the global energy market from July onwards if the disruption in the Middle East continues.
If you’re looking for certainty in your energy prices, we recommend fixing your tariff. If you’d prefer to see how the situation develops, you may want to stay on a Standard variable tariff and keep an eye on the latest price cap predictions beyond July.
1
The £221 yearly increase is based on the difference between Ofgem’s price cap for 1st April 2026 (£1,641) and the new price cap from 1st July 2026 (£1,862). The change to what you pay every month will depend on how much energy you use.
2
Internal ScottishPower modelling based on Ofgem Price Cap Methodology, proprietary wholesale data, and public industry data
3
My ScottishPower Terms and Conditions and exclusions apply.
4
Our Power Saver Offer events are part of our Power Saver service. You must be a ScottishPower electricity customer with an online account, a communicating smart meter and consent to sharing half-hourly readings with us to participate in the Power Saver Offer. Exclusions apply. See Power Saver Offer Terms and Conditions.
5
Electricity used will be charged at your normal unit rate, and you will later have your bill, or meter if you are a PAYG customer, credited for the energy used during your chosen slots. Each day is divided into hourly slots, with a 50% or 20% discount rating applied to selected slots (50% slots available 98 hours per week, 20% slots available 50 hours per week). Credit is calculated depending on the rating of your chosen slots (excluding VAT) and appears as ‘Power Saver Credit’ on your bill or statement. Your daily standing charge will be charged at your normal rate. Eligibility criteria, exclusions, and T&Cs apply.
Last updated: 28 May 2026