Energy price cap falls significantly as Ofgem reveals new level for average bills

The energy price cap on household bills has fallen to an annual average of £2,074 between July and September, removing some of the financial pain inflicted by the unprecedented surge in gas and electricity costs.

Industry regulator Ofgem made the announcement against a backdrop of good news for the cost of living crisis - with wholesale energy prices falling.

#energycosts #energybills #costofliving

[joshuaherbert]

Inaccurate reporting @skynews ! The Energy Bill Suppirt Scheme EBSS ended on the 1st April 2023, the Energy Price Gurantee (the EPG ) is due to end on the 1st July. People are no longer receiving the £67 from the EBSS

[doubleana]

Its getting warmer and ofgem reckons its gonna be cheaper. Its a joke

[xelthiavice]

and as soon as winter comes back. the gov and gas comps will raise it again

[jimmeer]

The market price of Gas fell through the floor ages ago. In addition to the gas we use itself, 30% of our electricity is generated by gas. So why is the media not questioning all this. I would certainly prefer answers tyo that rather than knowing the clour of Meghan's handbag and I am sure many others feel the same.

[bigboyshit]

The price cap was changed to 1918 in April last year based on a wholesale cost of 259 a therm. In the past 3 months the maximum the wholesale cost has been is 134 a therm, the average much lower- Ofgem advise contracts are agreed every 3 months based on wholesale costs

Today wholesale costs are below may 21 levels. How then are we expected to pay double for the next decade?

If it’s to recover the costs of bust energy companies then that needs to be seen, not just massive company profits

[johncollins]

Makes no odds the tories are still toast.

[ragemachine]

Once again the great British rip off continues unchallenged while the Gas and oil suppliers report record profits, Ofgem need a reality check with this price cap.

[charlesscottkelly]

U are wasting your time watch this lot.

[billienomates]

National grid cost to produce 1kwh averaged has been falling over end 22 and into 2023:-

12 12 22 39.98 p kwh
20 12 22 9.954 p kwh
20 03 23 9.447 p kwh
22 03 23 5.644 p kwh
02 10 23 5.540 p kwh
23 10 23 12.06 p kwh
20 11 23 8.379 p kwh

Someone please explain why as of 29 11 23 I am paying 27.93 p kwh.

[stevecraine]

lol but yet there is pressure to put the interest rate up to 5%

[veronicaalessandrello]

I have no problem to wear creased clothes, go out with curly-frizzy hair and have candle light (raw)dinners.
🙉 🙈
So, no judgement please. 😂

[christopher]

Scottish power just told me there prices our going up from July 😢 I thought they were coming down not up

[paulbest]

Disband government and let the people decide who should be in no 10 .The whole labour/Tory ruled government should be dissolved and a new system implemented

[jhardy]

What a con ! Until September during the summer months when we are using less to heat our homes .

[SoloSi]

Energy prices will stabilise just before the election, and rhen go up again next year. It's a racket.

[RaRa-eumw]

This is more good economic news, but still needs to go further. We're not out of the woods yet.

[baltukur]

Elections are coming 😂😂😂 Tories will pay for this