MILLIONS of households will see energy bills fall by up to £95 in October after Ofgem has announced a slash in the price cap.
The maximum providers will be able to charge default bill payers for energy this winter will be set at its lowest level at £1,042, down from the current cap at £1,126.The regulator says that it will ensure 15million households continue to pay a fair price for their energy. But the regulator warned that if wholesale costs to rise as lockdowns are eased, the cap is likely to rise again in April 2021.
Richard Neudegg, head of regulation at USwitch said: "Many customers will be relieved to see an energy price cut as temperatures start to drop.FALLING behind on your energy bills can be extremely stressful.Your provider has to help you come up with a solution, and you should be able to negotiate a deal that works for you both.You may be able to pay off your debts directly from your benefits through the Fuel Direct Scheme.
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