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Energy Price Cap Cut: Temporary Relief for Low-Income Families

2/23/2026

34 7 Full Breakdown

Summary

Story summary

Ofgem (the Office of Gas and Electricity Markets) will announce a £120 reduction in the energy price cap, driven largely by a £6.9 billion government energy bill discount.
Experts warn the April drop may be temporary and that bills could rise after 2029 without a sustainable framework.
Resolution Foundation, a UK think tank, notes the policy will primarily help lower-income households, with 24% saving over £200 this year.

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Story summary

Ofgem (the Office of Gas and Electricity Markets) will announce a £120 reduction in the energy price cap, driven largely by a £6.9 billion government energy bill discount.
Experts warn the April drop may be temporary and that bills could rise after 2029 without a sustainable framework.
Resolution Foundation, a UK think tank, notes the policy will primarily help lower-income households, with 24% saving over £200 this year.