Ofgem slashes price cap to £1,923 but bills will still be higher this winter than last year

The latest Ofgem price cap is the lowest since March 2022, but is still roughly 50 per cent higher than two years ago

The new figure means that from October this year bills for an average households paying direct debit is £1,923, while for an average pre-pay households it is £1,949.

Last year the average family bill was £2,500 thanks to the Government’s Energy Price Guarantee Scheme, while households also got an additional £66 per month taken off their bill over winter due to other Government support. This is based on figures from energy consultant Cornwall Insight, which predicts the price of gas will be 6.9p per kilowatt hour from October, while electricity will cost just under 27p per kWh.

The charity National Energy Action has warned that 6.3 million households could be trapped in fuel poverty this winter.

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