August 7, 2017 / 8:55 AM / 2 years ago

UK energy regulator lowers bills for vulnerable homes

Electricity pylons are seen in London, Britain August 1, 2017. REUTERS/Neil Hall

OSLO (Reuters) - British energy regulator Ofgem will cut the maximum amount that prepayment gas and electricity customers pay by up to 19 pounds ($24.79) annually from Oct. 1, it said in a statement.

Around 3 million households are expected to benefit from the tariff change, reducing the average yearly bill to £1,048 from £1,067 for a dual fuel prepayment customer.

“These households are amongst those least able to benefit from competition and are more likely to be in vulnerable circumstances,” Ofgem said.

Ofgem introduced the pre-payment safeguard tariff in April this year and plans to update it every six months.

Reporting by Lefteris Karagiannopoulos; editing by Jason Neely

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