Ofgem energy price cap falls 12.3% - what it means for your energy bills

The new Ofgem energy price cap rate means energy bills have dropped by an average of £20 a month. But prices remain well-above pre-Covid levels.

The Ofgem energy price cap symbolised by a smart meter
The Ofgem energy price cap fell on Easter Monday
(Image credit: Getty Images)

The Ofgem energy price cap has fallen 12.3% to its lowest level in two years.

It means gas and electricity bills have dropped by an average of £20 a month for around 29 million households across Great Britain, with the average home's bill falling to roughly £1,690. The actual amount you'll pay will depend on how much gas and electricity you use, as the cap applies to unit rates and not your total bill.

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Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.