Energy bills: Millions set to see ‘big savings’ as price cap lowered
Energy bills will fall by around £84 in October for millions after the energy regulator lowered the price cap because of cheaper gas wholesale prices.
Ofgem has cut the default price cap to £1,042, its lowest level since the cap was introduced in January 2019.
The pre-payment meter cap will fall by £95 to £1,070.
Ofgem said the changes would mean “big savings” for around 11 million households on default tariffs and four million on prepayment meters.