The average household energy bill will soon fall by £238 to £1,690 a year, as regulator Ofgem today confirmed its price cap for April 2024. Falling: The Ofgem set price cap will fall to £1,690 from AprilThe headline price cap figure applies to households on variable-rate tariff energy deals paying by direct debit. The April average price cap will run for three months until it is reset again in July 2024. Why is the Ofgem price cap so important? Because cheap fixed-rate deals had almost disappeared, almost all homes ended up on variable tariffs regulated by the Ofgem price cap.

Source: Daily Mail February 23, 2024 15:52 UTC