Source · Select Committees · Public Accounts Committee
Recommendation 24
24
Ofgem's energy price cap directly impacts average household energy bills.
Conclusion
The energy price cap limits the rates suppliers can charge customers for the standing charge and for each unit of electricity and gas used. The price cap is set by Ofgem at a level that is largely based on the wholesale price of energy.51 We asked Ofgem to provide information regarding the new price cap and the longer-term expectations for the energy price cap. Ofgem told us that the average household bill was £3,300 a year as of 25 May