Ofgem lowering energy price cap but bills to remain high | UK News

Energy prices are expected to fall in October (Picture: Getty Images)

Ofgem has announced it is lowering its energy price cap from the current £2,074 per year to £1,923 for the average household in England, Wales and Scotland, effective from October 1.

The cap – which limits the amount that a supplier can charge per unit of gas or electricity they sell – is expected to fall, cutting around £150 per year off the average annual household energy bill.

According to experts at Cornwall Insight, an energy consultancy, the price of gas will fall from 7.5p per kilowatt hour (kWh) today to 6.9p from October 1.

The price of electricity will fall from 30.1p per kWh to just under 27p, the consultants said.

This means that average annual energy bills for a household in Great Britain will fall from £2,074 today to £1,926.

Got a story? Get in touch with our news team by emailing us at [email protected]. Or you can submit your videos and pictures here.

For more stories like this, check our news page.

Follow Metro.co.uk on Twitter and Facebook for the latest news updates. You can now also get Metro.co.uk articles sent straight to your device. Sign up for our daily push alerts here.

Source link