"Households across the UK are set to see their energy bills fall after regulator Ofgem announced a 117 reduction to the energy price cap. From 1 April, the typical annual dual fuel bill will decrease to 1,641. This adjustment aligns with Chancellor Rachel Reeves' earlier promise of a 150 cut to average household bills."
"The energy price cap sets a maximum price that suppliers can charge customers in England, Scotland and Wales for each unit of gas and electricity they use. It also sets a maximum daily standing charge the cost of having your home connected to the grid."
Ofgem announced a £117 reduction to the energy price cap, effective April 1st, bringing the typical annual dual fuel bill to £1,641. This adjustment aligns with Chancellor Rachel Reeves' commitment to cut average household bills by £150. The energy price cap, established in 2019, sets the maximum amount energy suppliers can charge per unit of gas or electricity in England, Scotland, and Wales. The cap also establishes maximum daily standing charges for grid connection. The headline price cap figure reflects what households using typical energy consumption and paying by direct debit can expect to pay, though it does not limit total bills since consumption varies by household.
Read at www.independent.co.uk
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