Around 11 million households across the country are set to see their energy bills cut by between £60 and £80 a year, according to experts.
energy price cap
Renewable energy supplier Good Energy has won a permanent exemption from the Government's flagship energy price cap, the company has announced.
Inflation is expected to have jumped higher in April as a hike in the energy price cap came into effect.
Inflation fell below the Bank of England's target for the first time in two years in January thanks to the new cap on energy prices.
Britain's energy price cap to protect 11 million households on rip-off gas and electricity tariffs will come into force on January 1, saving consumers up to £120 each.
The incoming energy price cap will save 11 million households around £75 a year on average under plans to cap rip-off tariffs at £1,136, energy watchdog Ofgem has announced.
The energy price cap will make a "real difference" to the 12 million people stuck on the most expensive tariffs, a consumer group has said.
The introduction of an energy bill price cap should be brought forward before the start of the cold weather, ministers have been told.
Legislation designed to cap energy prices for 11 million households across Britain will be introduced to Parliament today.
A boss at ScottishPower has warned that the UK Government’s proposed energy price cap will be bad for consumers, companies and investor confidence.
The Government is to publish draft legislation to enforce a cap on some energy prices on Thursday, it has been announced.
The Prime Minister plans to introduce a price cap on energy prices next week, bringing a draft Bill to Parliament which she claims will "stop ordinary families being ripped off."
The energy regulator is considering introducing a price cap on bills as part of new proposals aimed at protecting vulnerable consumers.