The energy price cap is a set limit on how much we charge you for your energy. Ofgem set their price caps by working out how much it costs energy suppliers like us to supply you with gas and electricity. Your tariff will only be capped if you’re on a standard variable or default tariff. Your energy bill can still go up or down depending on how much gas and electricity you use. But, the price per unit and standing charge will never go above the energy price caps. The energy price cap is updated by Ofgem twice a year.