What the October price cap means for you

What you need to know: the energy price cap is changing from 1 October 2026. We recommend checking whether you’re currently on a fixed tariff or a Standard Variable Tariff and reviewing the options available to you. You can check or change your tariff in your online account or in the ScottishPower App.

Ofgem has announced the energy price cap for October to December 2026. The price cap sets a limit on the amount energy suppliers can charge customers on standard variable tariffs for gas and electricity.

Ofgem reviews and updates the cap every three months, in January, April, July and October, to reflect changes in the cost of supplying energy. How this change affects your energy bills will depend on the tariff you’re currently on. If you’re affected by the new price cap, we’ll be in touch with more information before the changes take effect.

Will the new price cap affect my fixed tariff?

No. If you’re already on a fixed tariff, your energy prices will stay the same for the duration of your fixed term and won’t be affected by the October price cap.

Will the new price cap affect my Standard Variable tariff?

Yes. If you’re on a Standard Variable tariff, your prices will change when the new price cap comes into effect on 1 October 2026. The exact impact on your bills will depend on how much energy you use and how you pay.

Will the new price cap affect my Flexi tariff?

If you’re on a Flexi tariff, the fixed-price element of your tariff won’t be affected by the new price cap. The variable element will continue to be reviewed quarterly until your tariff ends.

Should I fix my tariff?

A fixed tariff gives you certainty over your unit rates for the duration of your fixed term. This means your prices won’t change if the price cap rises during that period.

Whether a fixed tariff is right for you will depend on your circumstances and preferences. Some customers prefer the reassurance of fixed prices, while others choose to remain on a Standard Variable Tariff and follow future price cap changes.

As a reminder, if you fix your tariff with ScottishPower and we launch a better tariff later, you can switch to it without paying exit fees.

Other ways you could save with ScottishPower

Earn points and save with My ScottishPower

My ScottishPower¹ is our rewards club that could help you save simply by being a customer. Over half a million customers are already earning points, and every point means money off your energy bill.

Sign up to Power Saver²and get half-price electricity³

If you have a smart meter, you can choose when you switch on half-price electricity at selected times throughout the week by signing up to Power Saver.

Looking ahead

The October price cap has now been confirmed. Future price cap levels will continue to depend on a range of factors, including wholesale energy costs and wider market conditions.

If you’re looking for certainty over your energy prices, you may want to consider a fixed tariff. If you’d rather wait and see how the market develops, you can stay on a Standard Variable Tariff and keep an eye on future price cap announcements.