By Levi Winchester Ofgem has announced its new price cap and millions of households will breathe a sigh of relief as energy bills are set to fall by hundreds of pounds. The price cap will drop from £1,928 a year to £1,690 for a typical dual fuel household paying by direct debit. This marks a fall of £238 – around 12% – and this price cap level will run from April 1 to June 30, when it will then be updated again. Millions of people a standard variable rate (SVR) tariff – so if you’re not locked into a fixed rate deal – will be covered by the price cap. But working out how much your new energy b…