The next energy price cap will be in place from the start of October until the end December.
A new forecast from Cornwall Insight suggests that the amount the average household on a standard tariff will pay for its energy bills is set to fall by around £150 per year from October 1. Ofgem's next price cap is due to be announced on Friday, August 25 and is expected to drop to around £1,925, according to the energy analysts, whose previous predictions have been pretty accurate.
The £1,925 figure is calculated based on what Ofgem thinks an average household with typical usage on a standard tariff will use. The easiest way to understand how much any household will pay, whatever the price cap, is that those who use less energy will pay less, and those who use more will pay more.
Top Money Stories Today Dr Craig Lowrey, principal consultant at Cornwall Insight, said: "While a small decrease in October's bills is to be welcomed, we once again see energy price forecasts far above pre-crisis levels, underscoring the limitations of the price cap as a tool for supporting households with their energy bills.
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