We have good news. Energy regulator Ofgem today revealed the latest price cap on energy. From October 2020, energy prices will be capped at £1,042, an £84 reduction from the previous cap of £1,126.
This is due to a lull in energy usage over the first half of the year. As businesses closed their doors, energy usage has gone down and the wholesale price of gas and electric has fallen.
Why do you care?
Because you could be in one of the many UK households that will see a drop of up to £84 on their yearly energy bills.
That’s great, but you could be saving more than that.
Jonathan Brearley, chief executive of Ofgem, said people "can reduce their energy bills further by shopping around for a better deal".
He’s right! When you compare energy rates through Quidco Compare, not only could you switch to a better deal, but you could also earn up to £40 cashback on top. This means you’re saving money and making money back.