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Martin Lewis has given his breakdown on what the new lower Ofgem price cap means for you, including how much less you'll pay and a way to undercut it by roughly 3%
Ofgem said that while the drop was good news for consumers there were still challenges in the energy market, with a record 3.1 billion pounds in unpaid bills
Energy regulator Ofgem has today (Friday 23 February, 2024) announced a significant reduction of the energy price cap for the second quarter of 2024.
Package of measures to help customers 'make the most of cheap, low carbon power' through flexible tariffs announced as Ofgem confirms slight drop in energy price cap
The typical energy bills are predicted to drop from £1,928 per year to £1,656 from April 1 for UK households including British Gas, OVO, EDF, E.On and Octopus customers