The price cap limits how much you pay on a standard variable rate energy tariff.
It’s meant to make sure you pay a fair price for each unit of gas and electricity.
But the price cap doesn’t guarantee you’re on the cheapest deal.
Fixed rate deals are usually much cheaper than the standard variable rate tariff.
A fixed rate tariff charges a fixed price per unit of gas and electricity until the contract ends.
So yes, if the price cap falls, you will save money on your variable tariff.
But you could save much more by switching to a fixed rate deal and locking in a better price.