Energy bills drop by £120 as Ofgem sets new price cap

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Energy bills drop by £120 as Ofgem sets new price cap
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It comes as the Conservatives and Labour prepare to make household bills a key election battleground

The new cap will see energy bills from £1,690 to £1,568 from July 1 for a typical dual fuel household The price cap sets a limit on the maximum price for each unit of energy, meaning that the more energy a household uses, the more it will pay.

The previous price cap enforced in April led to drop of £238 a year, or approximately £20 a month, for a household consuming a typical amount of energy.Speaking to Sky News, Ms Coutinho said: “The thing that people have struggled with the most over the last few years has been their energy bills.“In April, prices came down almost £250 off the average household bill and today we are seeing another £122 come off people’s bills.

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