11 million households will have their energy bills slashed as Ofgem lowers the price cap by £75
MILLIONS of household will save £75 a year on their energy bills after Ofgem announced it has slashed the price cap by £75.
The four million people who pay for their energy on a pre-payment metre are also set to benefit as the cap has dropped by £25, from £1,242 to £1,217. It means that the price cap savings are smaller, leaving low-income families using the metres will have to make their cash stretch further. "This means the energy bills of around 15 million customers on default deals or pre-payment meters will fall this winter to reflect the reduction in cost of the wholesale energy.
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