Need to knowWhat the Ofgem price cap announcement could mean for your energy billsForecasts suggest energy regulator Ofgem will slash the price cap by £117British households could be in for breathing room as energy costs are projected to fall this spring (Image: PA Wire/PA Images)British households could be in for breathing room as energy costs are projected to fall this spring. Latest industry forecasts suggest the energy regulator, Ofgem, will slash the price cap by £117, bringing the annual bill for a typical dual-fuel household down to £1,641. She is achieving this by shifting 75% of the Renewables Obligation costs from household energy bills into general taxation and scrapping the Energy Company Obligation scheme. recommends looking for deals cheaper than the price cap, not longer than 12 months and without significant exit fees. Cornwall Insight currently expects the price cap to remain relatively steady throughout 2026, with a small fall forecast in July.

Source: Daily Mirror February 23, 2026 16:04 UTC