Energy bills to fall by £75 as Ofgem lowers price cap

08/08/2019 08:36 Energy

news

Energy bills are set to fall by around £75 for millions of households in Britain this winter after Ofgem announced a reduction in the price cap.

The default price cap will reduce from £1,254 to £1,179 from 1st October for this winter period until March and the prepayment meter cap will also reduce from £1,242 to £1,217 per year for the same six-month period.

 

Around 11 million households on the default or standard variable tariffs and an additional four million customers on prepayment meters will be affected.

 

The news follows the competition watchdog’s recommendation to extend the price cap for prepayment meter customers beyond 2020.

 

However, energy bills will still be higher for consumers than they were in January when the first default price cap – which stood at £1,137 a year on average – came into effect.

Source: energylivenews.com

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