Costs set to fall in October under Ofgem’s new price cap

Ofgem‘s price cap, which governs what millions of people pay for their gas and electricity, is expected to fall to £1,925 when it is announced next week, according to the latest forecast from analysts at Cornwall Insight.

The figure will be a 7 per cent reduction in the amount that the average household pays for its energy every year, and the lowest the cap has been since March 2022.

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