Households will pay slightly less for gas and electricity when a new fall in the price cap is announced next week.
Ofgem is expected to reveal a 7% reduction in the maximum charge, which will drop from an average of £2,074 to £1,925. according to the forecast from analysts at Cornwall Insight.
The figure will be the lowest the cap has been since March 2022.
The cap regulates how much an energy supplier can charge per kilowatt hour, or unit, of gas or electricity it sells. So people who use more energy will pay more, and those who use less will pay less.
Ofgem has changed its calculations for the price cap this time around because it expects people to use less energy. Taking into account these new expectations, the cap will likely be at £1,823, Cornwall Insight said.
The new price cap comes into force on October 1.
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