Millions of households can look forward to lower energy bills from this month as the new Ofgem price cap kicks in. The 12.3 per cent drop should see those on the standard tariff with average usage saving around £12 for every £100 of gas or electricity they use.
The energy regulator said that prepayment meter customers will not have to pay the extra charge, as many do not build up the same level of debt as credit customers because they top up as they go. Campaigners warned that while the costs that households pay for every unit of energy they use will decrease ‘slightly’, they were still almost double what they were in 2021.
This means that for the average Direct Debit customer, a total energy bill’s standing charges will rise from £303 a year to £334. Sign up to our Record Money newsletter and get the top stories sent to your inbox daily from Monday to Friday, including a special cost of living edition on a Thursday - sign up here.NEW - Get our money news alerts on your phone by joining our Daily Record Money WhatsApp community.