"This standard tariff price cut may illicit some mooted cheer, as millions of inactive customers will see their summer energy bills shaved down a touch," the MoneySavingExpert.com founder said. While the price cap is defined as a fair price, a fair price isn't a good price. "While the new price cap rate from April is £1,162 a year for someone with typical usage, the market’s cheapest deals are a little under £800 for the same usage," Martin explained. "In other words it’s the same gas, same electricity, same safety, same customer service, but a cheaper price and better terms. The energy price cap was first introduced on 1 January 2019 to protect households on expensive default standard variable tariffs.

Source: Daily Mirror February 07, 2020 15:16 UTC