The average household energy bill will fall to its lowest point in two years from Monday after Ofgem lowered its price cap in response to wholesale prices.
In some long-awaited good news for energy customers, the regulator’s price cap has dropped by 12.3% from the previous £1,928 for a typical dual fuel household in England, Scotland and Wales to £1,690, a fall of £238 over the course of a year or about £20 a month.
The average household on a standard variable tariff (SVT) is expected to spend £127 on energy in April, compared with £205 in March, due to a combination of cheaper rates and lower usage as the weather warms up.
