The new Ofgem price cap comes into effect in April, as the average household is set to see energy bills drop by 12.3 per cent.
The £238 fall over the year equates to around £20 saved each month for the average household in England, Scotland and Wales. Stephen explains: “The energy price cap is essentially the government’s energy price guarantee. It is a cap on the cost of a unit of gas and electricity, with standard charges considered.
“While the energy price cap drop will lead to an estimated 12% saving for most households, with warmer weather meaning that we’re less likely to put the heating on, households could see a further reduction in their bills in the coming months.
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