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Ofgem proposes energy price cap of £1,136

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Energy watchdog Ofgem has proposed an energy bill price cap of £1,136.

It says the move will mean 11 million households on poor value default deals will save around £75 on average while consumers should save £1bn in total.

The provisional cap will be confirmed next month and take effect at the end of December. The cap will be temporary but in place until 2023 at the latest.

Dermot Nolan, chief executive of Ofgem, said it was "a tough price cap which will give a fairer deal to consumers". Canon SupportNumber

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