Good question, I don't know. However, it's worth mentioning the price cap is per unit of energy, not an overall limit on how much households pay. No surprise, wholesale costs are the largest element of a UK retail energy bill - and the price cap is adjusted to reflect changes in wholesale prices. As indicated in my previous post, the price cap is almost certainly going to go up in each of the next three quarters, reflecting the rise in wholesale prices (of gas and electricity). I think wholesale costs used to be about a third of your energy bill, but now they are about half and soon could be two-thirds. In other words, the other elements of the bill are staying relatively stable (network costs, supplier costs, social/green levies, tax, etc) so I suppose that means the producers are always getting paid their dues.