The current energy price cap of £2,074 per year will be lowered to £1,923 from October 1.
Ofgem has announced it is lowering the energy price cap by £151 from the current £2,074 per year to £1,923 for millions of households across Scotland, England and Wales. The energy regulator confirmed on Friday that the change will come into effect on October 1 and be in place until the end of December.
Ofgem chief executive Jonathan Brearley said: “It is welcome news that the price cap continues to fall, however, we know people are struggling with the wider cost of living challenges and I can’t offer any certainty that things will ease this winter.” Top Money Stories Today He continued: “Demand for advice across the Citizens Advice network shows people are turning towards commercial credit to cover essential costs, and a significant crossover between people needing energy advice and help with debt or food insecurity.
But on top of that the UK Government was also paying around £66 or £67 per month towards each household’s energy bill. This support is not there this winter, meaning that many households will be paying more every month this winter than they were last year .
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