By Rhodri Morgan The UK’s electricity and gas watchdog has lowered the energy price cap for consumers to the lowest level intwo years. Ofgem this morning said the price cap will fall by 12.3 per cent on the previous quarter from 1 April to 30 June 2024. For an average household paying by direct debit for dual fuel, this equates to £1,690, a drop of £238 over the course of a year – saving around £20 a month. The body said this will see energy prices fall to their lowest level since Russia’s invasion of Ukraine in February 2022. The war caused a further spike in an already turbulent wholesale en…