Energy regulator Ofgem failed to catch up with a price war that has been raging between suppliers as it slashed the limit it puts on household bills by less than expected. The regulator said bills would go down by £17 for around 15 million households after its half-year review of the price cap. Average households will now pay no more than £1,162 for their energy per year after the cap comes into effect in April. Those with pre-payment meters will see their cap fall to £1,200. Experts had been predicting a fall as wholesale energy prices were squeezed over autumn and winter. However, their predictions that costs would drop by between £20 and £60 proved optimistic. Ofgem said the cost for the raw materials on the average energy bill had fallen by £38 to £408 between August and January.
Telegraph 7th Feb 2020 read more »