The price cap sets a maximum rate for:
Energy units: the price suppliers can charge per unit of gas and electricity you use
Daily standing charges: the price suppliers can charge per day for ongoing costs, like paying the companies who manage distribution networks, operating costs, etc.
Ofgem have shared that on average, the maximum unit rates are:
28p / unit of electricity
7p / unit of gas
These are averaged figures from across all regions in the UK. As certain costs vary, e.g. what transmission network fees we pay in an area, the actual maximum unit rate varies depending on region. There’re other factors too: different maximum rates for Economy 7 tariffs (which have a day and a night price) and prepayment meters.
Ofgem will publish a full breakdown of price cap rates across the UK soon, and we’ll share it here as soon as we have it.