Will Electric bills come down with the energy price cap

With Ofgem announcing that the energy price cap is to come down a little from October, will we see Bulb pass the saving on to electricity or is this only for gas.
I only have electricity with Bulb. My gas is with another supplier. My electric bill has gong up a little since lockdown started but I guess that was to be expected.

The cap only applies to anyone foolish enough to still be on a default Standard Variable tariff.

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Thanks for your reply.

Darren

Bulb’s rates are still lower than the revised cap rates. So there isn’t any “saving” to be had (you could argue that we were already benefitting, just by being with Bulb :wink:).

The reason why the cap is falling is that energy prices have fallen, so the real question is,
With the change in energy pricing, including Octpus Agile paying negative unit rate at times, ie pay you to use electricity, when is the next price update due with falling energy costs?

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Or anyone unfortunate enough to be on prepay, often through circumstances outwith their control

From the boss

Note that Ofgem have said that they expect the cap to be revised upwards in 6 months, as wholesale energy prices are rising again (changes to the cap lag the wholesale market).

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Hi @darrenney As per the previous replies on this thread, this applies to standard variable tariffs. People find themselves on these once their fixed contracts have run out, or upon moving into a property and not signing up for a specific contract (for example if they have a 9 month tenancy and the contracts are all 12 months). Any major changes that impact Bulb will always be shared on our blog.

@skippy64 You may be surprised to know that when surveyed, the majority of prepay responders were happy to pay by top up over direct debit. If they’re not we offer smart credit meters

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