Ofgem update: Energy price cap drops – how much will households need to pay? | Personal Finance | Finance

Dr Steve Buckley, head of Data Science at Loop, outlined that removal of this grant will hurt families even with the energy price guarantee remaining at £2,500 and Ofgem’s price cap dropping.

He explained: “On a monthly basis this will mean households are losing out on £67 regular support payments.

“With Ofgem reducing the energy price cap earlier this month, it is now actually cheaper for the government to support households, with a smaller amount to subsidise.

“Even if the energy price guarantee rise is scrapped, households will still face a significant scale back on Government support to manage costs, as winter discounts come to an end in the midst of a cold snap.