As experts continue to warn of rises to come in the winter months, the energy regulator confirmed a reduction in its price cap, which will bring down the average household bill this autumn.
Ofgem has reported that from October to December, the average household pays a yearly charge of £1,923 for gas and electricity directly debited.
That’s down from the figure of 2,074 pounds for the three months to the end of September.
For gas, the price that a supplier can charge is reduced from 6.9p to 6.89p per kilowatt hour and electricity costs fall from 30.1p kWh to 27.35kWh.
The decrease is largely explained by falling wholesale prices, which Ofgem considers to have stabilised the market and has allowed suppliers to return to better financial position.
If the cap was to be reflected in an impending Ofgem calculation that favours energy reductions, then it could have been lowered even further by a further £100.
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