We're wrapping up our live coverage on this morning's energy price cap announcement, but you can read our main story rounding up what we learned here.

There's plenty of explainers and analysis across the BBC website so you can delve deeper into some of the points we've covered today, including:

• An explanation of what the price cap actually is
• Advice on how to reduce your bills this winter
• And guidance what to do if you can't afford your energy bill

Thank you for joining us. Today's coverage was edited by Marita Moloney and Jasmine Taylor-Coleman, and the writers were Anna Boyd and Emily Atkinson working alongside our Money and Work team and cost of living correspondent Kevin Peachey.

Earlier today, energy regulator Ofgem announced that the price cap on bills will be slightly lower for average households from October.

We're going to pause our live coverage shortly but before we do, here's a round up what's been happening:

• Ofgem says the new price cap will mean a typical household will pay £1,923 a year from 1 October for their energy bills
• The price cap influences what 29 million households in England, Wales and Scotland pay for their energy - it's the price per unit, not the total bill
• Though costs will fall, the average household energy bill will still be hundreds of pounds higher than in winter 2021, when it was £1,277
• PM Rishi Sunak insisted it was a "good day for families", while Labour said the figures demonstrated "the scandalous Tory cost of living crisis"

• Citizens Advice warned this winter could be "bad, if not worse, than the last" for struggling households

Image source, .

Here are some energy saving ideas from environmental scientist Angela Terry, who set up One Home, external, a social enterprise that shares green, money-saving tips.

• Getting a water efficient shower head free of charge from your water company and using showers rather than baths
• Considering loft insulation, which she says costs around £680 for a typical semi-detached home and could save £285 a year on gas bills
• Hanging out washing instead of using a tumble dryer, and walk instead of drive when possible
• Use windy days to feel where draughts are in the house. Wetting the back of your hand helps to locate them, then use insulation or draught-proofing tape
• When available, press the smaller button to use less water to flush the toilet

If you're just joining us, Ofgem announced a new price cap today that means the annual energy bill for a typical household will fall to £1,923 in October.

The cap accounts for the price of each unit of energy, so let's break down what that means.

From 1 October:

• The cost of electricity will fall from 30.1p per kWh to 27.35p

• The price of gas will fall from 7.5p per kilowatt hour (kWh) to 6.89p

This is based on an estimate that the average household uses 2,900 kWh of electricity and 12,000 kWh of gas.

And as for standing charges:

• They will be 53.37p per day for electricity
• And 29.62p per day for gas

What is a typical household?published at 12:04 British Summer Time 25 August 2023

12:04 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Rounding off our Q&A segment is this query from a reader: "Could you please clarify what constitutes a 'typical' household? Comments such can easily mislead people."

This is used to illustrate what is happening to bills.

Rather than it meaning a two-bed flat, two kids and a dog, it is based on what Ofgem considers to be typical energy use.

Specifically, it says the average household uses 2,900 kWh of electricity and 12,000 kWh of gas.

Just to add a level of confusion, Ofgem is just about to lower that estimate of typical usage - something that will be reflected in figures for the price cap in the future.

When will standing charges reduce?published at 11:54 British Summer Time 25 August 2023

11:54 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Christina says: "We are being told it is to cover 'fixed costs' and 'people who have been moved over due to the collapse of smaller energy companies', but how long are we to be fed this line when record profits are being announced regularly?"

I’ve just been in conversation with officials at Ofgem about this.

They say that the key reason for a rise in standing charges this time is rising rate of inflation.

Suppliers, they say, face higher running costs for things like call centres.

So, that’s been reflected in the charge for consumers.

The debate on the fairness of standing charges will undoubtedly continue. After all, there is nothing customers can do to bring them down.

Is there any support for pensioners?published at 11:45 British Summer Time 25 August 2023

11:45 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

A succinct question from Christine Gilbert now, who asks: What help is the government giving to OAPs?

Households that receive the winter fuel payment - which is worth £200-£300 and is paid to nearly all homes with at least one person of pension age - will receive another £300 this coming winter.

Lower-income pensioners who claim pension credit get the money in addition to extra cost of living payments provided for those on benefits.

But many pensioners who are eligible fail to claim pension credit.

What financial support is available for disabled people?published at 11:41 British Summer Time 25 August 2023

11:41 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Rachel Noble draws attention to the millions of disabled people in the country who rely on energy hungry appliances or higher energy usage. "How are these people going to be supported - or are we forgotten again?" she asks.

People with disabilities often have higher energy bills. As Rachel says, they may need to run specialist equipment or ensure a home is suitably warm.

One of the cost of living payments, worth £150 is for people with disabilities. Those eligible would have received it recently.

Many may also qualify for payments of hundreds of pounds going to those on low incomes and receiving certain benefits.

Charities say everyone should check they are claiming what they are entitled to, and want the government to offer more to those most in need.

What happened to the government's insulation grant scheme?published at 11:36 British Summer Time 25 August 2023

11:36 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Jo Wilson, from St Leonards-on-Sea, says that last year the government announced details of a scheme offering insulation grants to households within certain council tax bands. Where is it?

That scheme has been passed into law, external.

In effect it places an obligation on medium and large energy companies to deliver results that bring energy usage down.

The so-called Great British Insulation Scheme is supposed to support 100,000 homes a year.

Campaigners say it is off to a slow start.

Experts say insulation costs around £680 for a typical semi-detached home and could save £285 a year on gas bills.

Do fixed tariffs account for the energy price cap drop?published at 11:27 British Summer Time 25 August 2023

11:27 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Stephen Horrocks says some suppliers are offering customers fixed tariffs for the year. He asks whether he will miss out on the drop in energy costs from October if he fixes his tariff now.

Everyone - including the regulator - says that care needs to be taken when considering whether to fix. The choice is still quite limited.

Clearly, wholesale energy prices are volatile - so it is really hard to judge whether you will, or won’t, be getting a good deal.

By definition, fixing the price means that if prices come down for everyone on variable rates, you would not benefit. Obviously if prices go up elsewhere, you would be protected.

The best advice is to do the sums for your personal circumstances and take your time.

What extra help is available for energy bills?published at 11:22 British Summer Time 25 August 2023

11:22 BST 25 August 2023

Many of you will be wondering: Can I get any additional support to help with my gas and electricity bills this winter?

The £400 discount which all households in England, Wales and Scotland received last winter has finished.

Some groups across the UK who may struggle to pay bills can receive additional help through cost-of-living payments:

• £900 to households on means-tested benefits - paid in three instalments in spring, autumn and spring 2024
• £300 for pensioner households next winter
• £150 to people on certain disability benefits, being paid in the coming weeks

You can find out who is eligible here.

Why are energy bills still so high?published at 11:00 British Summer Time 25 August 2023

11:00 BST 25 August 2023

Kevin Peachey
Cost of living correspondent

Kicking off our questions segment on the energy price cap is James in Northamptonshire who asks: With wholesale gas prices now lower than before the Russian invasion, why are energy prices still so high?

Ofgem judges its cap based, in part, on wholesale prices - which are paid by suppliers.

This is done during what is technically known as an observation period, which ends a week or so before the announcement is made.

It is worth remembering that wholesale prices were rising even before Russia’s invasion of Ukraine.

Also, bills would have been considerably higher last year had the government not stepped in with a taxpayer-funded guarantee to limit everyone’s bills.

We're answering your questions after the energy price cap announcementpublished at 10:53 British Summer Time 25 August 2023

10:53 BST 25 August 2023

As promised, we will be answering your questions on today's energy price cap announcement - and what it means for you.

Our cost of living correspondent Kevin Peachey has been busy writing his responses to your queries in between his appearances on the news channel and radio.

While we wait, you can scroll back through this page for the latest reaction to Ofgem's announcement, a breakdown of how day-to-day energy costs will change and the support available for struggling households.

Your questions answered is coming up any moment now, so stay with us.

Leah in Shropshire has been telling Radio 5 Live that her direct debit increased from £115 to £170 per month when she moved energy suppliers.

After trying to cancel the rising direct debits, Leah was unable to keep the costs down so she took out a second job saying it's the "only way we’ve been able to keep our head above water”.

“We’ve got a two-year-old so it means I can’t spend as much time with her, I’m having to put her into childcare more, so obviously there’s a knock-on-effect there with the cost.”

Leah explains she is working more than a 40-hour week and it’s having a negative impact on her health: “I’m exhausted all the time…I don’t know how much longer I can keep this up but if I don’t, we can’t afford bills and the cost of food now is ridiculous when there’s just three of us."

Looking ahead to winter and the impact the cold weather will have on her family, Leah says she is terrified.

"We’ve got a young child and I don’t want her to suffer being in a house when it’s cold…I hope I can build up a little bit of credit in our gas and electric account."

Families and pensioners will struggle to heat their homes again this winter due to the government's "inaction", say the Liberal Democrats.

Responding to Ofgem's announcement today, Lib Dem climate and energy spokesperson Wera Hobhouse says bills "will still be almost double what they were two years ago" and "many families will actually be paying more than they did last winter".

"That is a shocking failure on the part of Conservative ministers," she adds.

“Rishi Sunak must finally introduce a proper windfall tax on the record profits of the oil and gas giants to give families and pensioners the support they desperately need, including doubling the Winter Fuel Allowance and Warm Home Discount this Winter."

Rishi Sunak has been speaking about the changes to the energy price cap announced by Ofgem this morning.

The prime minister says the fall in the typical energy bill to £1,923 is "good news for families up and down the country".

Asked about families being concerned they will struggle again to pay their bills this winter, Sunak tells reporters the government is working "night and day to ensure the money in people's pockets goes further."

"I want to make sure the most vulnerable in our society do get help, even when prices are coming down," he adds.

Image source, Getty Images

The chair of the Committee on Fuel Poverty (CFP) says more needs to be done help the poorest and most vulnerable households with energy bills.

Former Labour minister Caroline Flint says people are still living with bills "50% higher than pre-pandemic times" and the debt that has built up over the last few years.

"We need a winter plan that is shared across government, local government, the NHS, housing providers and charities to make sure none of those people fall through the net this winter," she tells BBC Radio 4's Today programme.

Flint adds that increased cash support through a Warm Homes Discount or a social tariff for low income households need to be considered.

Felicity Hannah
Wake Up To Money

Today's announcement brings down the typical dual fuel bill to less than £2,000 for the first time since April 2022.

But while that's a reason to cheer, bills will still be considerably higher than they were before the Russian war in Ukraine. In the winter of 2021, households typically paid £1,277 a year and I spoke to many people who were struggling even then.

A survey by Which? suggests that almost half of households did not turn on their heating when it got cold last winter, despite the government's extensive energy support. High bills led to some charities and organisations setting up warm banks.

Despite today's fall in the typical bill, it could be that such extraordinary help is still required in the colder months ahead.

Listen to today's Wake Up To Money on BBC Sounds here

Image source, Getty Images

The energy price cap sets the amount suppliers can charge, including during winter when many people particularly struggle with the cost of heating and other household energy bills.

Here are some ways to help keep costs down:

• Using the thermostat and timer to take control of your heating settings could save you about £150
• Reducing your combi boiler flow temperature to 60C could save you about £100   
• Installing a water-efficient showerhead or having showers in four minutes could save you about £90
• Turning down radiator valves in less-used rooms could save you about £705.
• Draught-proofing your doors, windows, chimneys and floors could save you up to £215

You can read how each tip works in our full story here.

While the actual savings differ for different people, at the end of each section we explain how the savings figure was worked out.

Environmental group Friends of the Earth has criticised the government, calling on it to "end our reliance on expensive, polluting gas" and make our energy system "fairer and greener".

Spokesman Connor Schwartz said the government needed to be "rolling out street-by-street insulation" to help reduce people's bills.