Energy bills to be slashed by up to £95 for 15m households across UK

dailyrecord.co.uk:

Ofgem has reduced its energy cap to their lowest level yet and said it will see around 15 million household bills slashed by as much as £95.

Officials said the new cap would pass on savings from lower energy prices to many households that are suffering economic hardship during the pandemic.

The price cap has been set at £1,042 per year for an average household and will come into force from October 1, Ofgem said. It's an £84 drop for customers on their supplier's standard tariff and a £95 drop for those with prepayment meters.

The new cap will remain in place for six months until Ofgem reviews it again. Ofgem also said it would recommend that business secretary Alok Sharma should extend the price cap into next year.