UK Energy Price Cap Falls But Millions Set to See Higher Bills

The national price cap will drop 7.3% to £1,923 for the last three months of the year, from £2,074 previously, regulator Ofgem said Friday. The pricing mechanism, set on a quarterly basis, limits how much suppliers can charge per unit of energy.

Britain remains in the midst of an historic cost-of-living crisis, with consumers having to pay more for everything from food to fuel housing costs. While inflation has eased from the highest level in decades, it’s still stubbornly elevated. The Bank of England’s chief economist recently warned that rising energy costs could derail efforts to keep overall prices in check.

Consumer charity Citizen’s Advice is calling on the government to do more to help people from falling into fuel poverty, such as expanding the support that lower-income households are eligible for, like the Warm Home Discount. The group says record numbers of people are seeking help from energy debt, which is now more than £1,700 — a third higher than it was in 2019.

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