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Ofgem's price cap reduction kicks in today

The price cap falls today, but you'll save more if you switch.

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By Matt Maynard · 1st October 2020

Ofgem's price cap falls today, bringing the average price for a typical dual-fuel household energy bill down to £1,042 a year. 

Households on expensive standard variable tariffs could see their bills drop slightly as the price-per-unit of energy decreases with Ofgem's price cap falling. 

However, it's important to note that the overall cost of your energy bill will not drop, just the price you pay per kWh of energy - so don't expect to see drastic savings immediately, or maybe ever. 

So if you're looking to save money on your bills, it's important you don't rely on the price cap falling to do it for you. Standard variable tariffs - the type of tariff affected by the price cap falling - are already the most expensive deals out there, so don't let this price caps news fool you into remaining on one.

Switch instead

Switching remains the best way to ensure great savings, giving you the chance to compare the current price you pay for your energy next to cheaper, better deals. 

Enter your postcode, followed by some details on your current supply to get started, and we'll generate a completely transparent, no-nonsense list of the best deals out there for you. 

Check out our very own guide for anything else you want to know regarding the October 2020 energy price cap.

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