Big Slash on Energy Costs
UK households, rejoice! Ofgem has announced a sharp 7% cut to the energy price cap starting April. This means typical annual dual fuel bills will shrink by around £117, taking about £10 off your monthly outgoings. A welcome breather amid soaring living costs!
What’s the Price Cap Anyway?
The price cap sets the maximum amount suppliers can charge per unit of gas and electricity on standard variable tariffs. While your total bill depends on usage, this cut still eases the strain on households nationwide at a crucial time.
Why the Drop? Blame Wholesale Prices
Ofgem says the cut reflects falling wholesale energy prices and adjustments to policy charges baked into your bill. Experts have hailed the move but warn that energy bills remain far higher than pre-pandemic levels.
Don’t Miss Out – Review Your Deal Now!
Consumer groups urge Brits to check their current energy plans. Switching to a fixed tariff could lock in savings, especially since the lower price cap kicks in from April 1 to June 30. Time’s ticking—act fast to keep more cash in your pocket!
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