Ofgem is expected to announce a reduction in the energy price cap from October, with typical annual energy bills falling from £2,100 last winter – thanks to the Government’s Energy Price Guarantee and universal £400 energy support payments – to around £1,925 this winter, largely driven by falling wholesale gas prices. However, The Resolution Foundation and others have warned the headline reduction in bills by almost £200 masks wide variation for households. Although the price per unit of energy is falling, this will be offset by a rise in the daily standing charge and the fact that last winter’s universal £400 energy support is not being repeated.
Broadcast on 24/08/23
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