FILE PHOTO: The sun rises behind electricity pylons near Chester, northern England October 24, 2011. REUTERS/Phil Noble/File Photo
The reduction was due to a fall in wholesale gas prices since February as lockdowns on business and homes led to a slump in demand, regulator Ofgem said. The cap for average annual consumption on the most common tariffs, used by around 11 million households, will fall by 84 pounds to 1,042 pounds, Ofgem said.
Ofgem calculates the cap using a formula that includes wholesale gas prices, energy suppliers network costs and costs of government policies, such as renewable power subsidies.Ofgem also recommended the cap, which is adjusted twice a year, should remain in place in 2021.
This picture is antiquated.
Must be nice
Try telling British Gas.
Daily power outages here in the u.s
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