Price cap falls below £2,000

The energy price cap will dip below £2,000 for the first time since April 2022 when it is updated in October, Ofgem has announced. It comes as the energy regulator confirmed a series of decisions around increasing the Earnings Before Interest and Tax (EBIT) allowance, supporting prepayment meter (PPM) customers and plans for a new consumer code of conduct which is expected to be in place by winter.

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