On 23 February, Ofgem announced the latest price cap that will come into effect in April and it is going down!
The price cap will fall by 12.3% on the previous quarter from 1 April to 30 June 2024. For an average household paying by direct debit for dual fuel this equates to £1,690, a drop of £238 over the course of a year – saving around £20 a month.
Furthermore, Ofgem recognises that the cost of living remains high and many customers continue to struggle with their bills as standing charges rise and energy debt reaching record levels. Ofgem have confirmed that the standing charges for customers with a prepayment meter will not exceed those paid by direct debit fuel customers.
For further information please visit Ofgems press release from 23rd Feb 24 Welcome fall in the price cap but high debt levels remain | Ofgem
