Ofgem Cuts Energy Price Cap by £122 a Year
Published on May 24, 2024
The average household energy bill is to set to fall in the third quarter of the year under the market unit price cap announced by Ofgem on Friday. This results in an reduction of about £122 in energy costs for households in England, Wales, and Scotland over the course of the year. Total figures each individual customer will pay depends on how much energy their house uses, where they live, and what type of meter they run. The price cap sets a legal limit on the maximum price suppliers can charge for each unit of gas and electricity used, setting a maximum daily standing charge....