New price cap to drive energy bills to two-year low

Staff
By Staff
1 Min Read

Image: Chones/ Shutterstock

Britain‘s energy regulator, Ofgem implemented its latest price cap on 1st April – the energy price for a typical household utilising both gas and electricity and paying through direct debit will decrease by £238.

This adjustment lowers the energy price cap from £1,928 to £1,690 annually, constituting a reduction of approximately 12%.

The actual amount paid will vary based on household energy consumption, geographical location and meter type.

However, despite this reduction, bills will still exceed the pre-crisis standard.

For the period spanning 1st April to 30th June 2024, the electricity rates for those on standard variable tariffs and paying via direct debit will average 24.50 pence per kilowatt hour (kWh), with a daily standing charge of 60.10 pence.

Similarly, for gas, those on standard variable tariffs and paying via direct debit will face an average rate of 6.04 pence per kWh, alongside a daily standard charge of 31.43 pence.

These figures encompass averages across England, Scotland and Wales, inclusive of VAT.

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