UK lowers energy price cap

Utilities in the UK can look forward to coming under even more pressure from October when the country lowers its price cap by 6 percent.

Photo: Jens Henrik Daugaard/JPA

As of October, the UK's price cap on gas and electricity will move down a notch, informs the Office of Gas and Electricity Markets (Ofgem) in a statement.

The agency reveals that the 11 million default tariff customers – those entailed under the price cap – might get annual savings of GBP 75 due to the ceiling being lower from GBP 1,254 to GBP 1,179 for one year's consumption.

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