Martin Lewis explains what Ofgem price cap slash really means for you

23 Feb 2024 • 5:25 PM MYT
The Independent
The Independent

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Martin Lewis has explained what the Ofgem energy price cut really means for you.

Households are set to pay £238 less a year in energy bills from April after Ofgem unveiled its energy price cap on Friday (23 February).

The new price cap is set to fall by 12.3% from the current £1,928 to £1,690 from April 1 for a typical dual fuel household in England, Scotland and Wales.

Appearing on Good Morning Britain, the Money Saving Expert founder explained what this means for you in the long run.