Energy bills will rise by £94 for millions of households from today.
The energy regulator Ofgem confirmed the new price cap last month.
It means the average household will see their annual bill increase to £1,928, but the exact amount you pay depends on your usage.
The energy price cap works by setting a limit on the maximum amount suppliers can charge for each unit of gas and electricity.
That means despite the energy price cap being £1,928, you might pay more or less than this amount, depending on your usage.
Ofgem also sets a maximum daily standing charge which is what households have to pay in order to have their home connected to the National Grid.
The cap is calculated based on the wholesale price of gas and electricity.
It also includes allowances for tax, charges paid to the energy networks, green levies and social payments.
The reason it has gone up so much in the last 18 or so months is partly due to Russia limiting its gas supply to Europe.
But there's also been high demand from Asia which has seen prices surge.
The UK also imports more than two-thirds of its gas which is subject to global price swings making prices more volatile and likely to rise.