Big fall in household energy bills predicted from April
Government budget measures shifting costs to taxation will reduce the average dual-fuel household energy bill by £117 to about £1,641 annually, Ofgem and Cornwall Insight say.
- From April 1, Cornwall Insight predicts Ofgem will cut the energy price cap, lowering typical dual‑fuel bills by 7%.
- As set out in the budget, the government has scrapped the Energy Company Obligation scheme and removed 75% of renewables obligation costs, funding these through general taxation.
- Compared with December's forecast, wholesale gas prices have risen slightly and Britain's energy networks operation and maintenance charges have offset part of the April reduction, Cornwall Insight predicts a smaller cut than the expected £138.
- Uswitch cautions all households will see an adjustment from April, but savings depend on personal energy usage, with higher users seeing larger reductions.
- Lowrey of Cornwall Insight warned that sustaining savings requires investment, while Ofgem's 1,758 benchmark leaves a 276 gap to the cheapest fixed deal, and 83% of Britons have not switched energy supplier.
25 Articles
25 Articles
Energy bills to drop by 7% in April under Ofgem price cap change as Labour pledges to 'take £150 off costs'
British households can expect their energy bills to drop by approximately seven per cent when Ofgem's price cap undergoes its next revision in April, energy analysts have predicted.Cornwall Insight forecasts that Ofgem will lower the energy price cap by £117, bringing annual bills for a typical dual fuel home down to £1,641 from 1 April.This projection represents a slightly more modest decrease than the consultancy's earlier estimate, which anti…
Inflation falls to 3% – but electricity bills jump 5.3% as households overpay £276 (aff)
Inflation has eased to its lowest level in nearly a year, but electricity prices are rising again under the Ofgem cap – leaving many households paying hundreds more than they need to.
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