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Ofgem has announced the latest price cap today as households prepare to see their energy bills fall to their lowest level in more than two years.
The fall will be £1,690 from April 2024 – a fall of £238 for the average dual-fuel household.
The change comes into effect today, lasting three months until the end of June.
Here’s everything you need to know about what the announcement means for you and your bills:
What is Ofgem’s energy price cap?
The energy price cap is the maximum amount energy suppliers can charge for each unit of energy for households on a standard variable tariff.
It is not the maximum amount you could be charged for energy in a year, nor a fixed rate. Rather, it is an indication of the average amount households can expected to pay if their energy consumption is ‘typical’.
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