The Loop Price Cap Tariff is our default tariff based on OFGEM's Price cap formula, using the latest prices from OFGEM.
It's been added to Loop so:
- new users see costs throughout the app straight away
- Starting with version 2.7.0 of Loop (available from February 5, 2024), new users will automatically be placed on the Loop Price Cap Tariff
- For existing users who don't have a chosen tariff, the Loop Price Cap Tariff will become their default option.
- Starting with version 2.7.0 of Loop (available from February 5, 2024), new users will automatically be placed on the Loop Price Cap Tariff
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- The tariff will be set with prices based on the user's region, as a standard dual fuel tariff (not Economy 7), with payment type of monthly direct debit
- Loop will prompt users to 'personalise' their tariff, i.e. to locate and apply their supplier/tariff from our tariff list
- users whose tariffs aren't available in Loop can at least choose an alternative based on the latest price cap prices
For more information about missing tariffs please see What should I do if my tariff isn't available?