What is the Loop Price Cap Tariff and what is it for?

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.
      • 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?