Page 39 - Ofgem News Today

Annual household bills for gas and electricity are set to fall by at least £150 from October, new forecasts have revealed.

Although it may be good news that energy bills are to fall - the price cap is still significantly higher than it was back in October 2021 when it sat at £1,277

Industry analysis suggests annual gas and electricity costs for average homes will drop to £1,925 from October under regulator Ofgems energy price cap, which will be announced next Friday.

Energy bills will fall by around £150 per year from the start of October, according to a new forecast. Regulator Ofgems new price cap will drop to around £1,925 - a reduction of seven percent and the lowest it has been since March 2022.

Energy Networks Association hails Britain as one of the largest grid flexibility markets in the world

With the possibility of further Ofgem energy price cap reductions in the near future, fixing a rate now could see Britons miss out if prices fall.

With volatile energy costs and operators locked into sky-high deals, the Morning Advertiser has teamed up with UKHospitality to launch a campaign, The Power Struggle, to ensure the industry is heard loud and clear as part of a consultation process.

Fuel poverty campaigners have said this winter will be as difficult as the last for Brit households - yet super-rich energy companies will line their pockets with millions

The Bank has indicated that it expects Ofgems price cap to fall to around £1,900 per year from October. The price decline means that electricity and gas will become a drag on inflation.

Heat network price protection and service quality safeguards unveiled, alongside long-awaited heat network consultation on Ofgem enforcement mechanisms