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The UK’s household energy price cap is set to fall by 12 per cent in April following a drop in wholesale gas and electricity prices.
Ofgem, Britain’s energy regulator, has set the price cap for the April to June period at £1,690 a year for a typical household, down from £1,928.
It is the lowest level for the cap since March 2022, when it stood at £1,216. However, it remains above typical levels of below £1,200 before the energy crisis that began in the winter of 2021 as wholesale prices rose.
National Energy Action, the fuel poverty charity, warned that 6mn households would still be in “fuel poverty” — defined as spending 10 per cent or more of their income on energy — from April.
This is a developing story