Energy price cap: Average annual bill to fall from July, Ofgem announces
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The average annual energy bill will be £506 cheaper than a year ago from July, the sector’s regulator has announced.
The energy price cap – which limits what can be charged per unit of energy – is due to fall from the month after next.
It means the average annual bill will be £1,568 a year, 7% less than at present.
Energy regulator Ofgem sets the cap four times a year, with the latest announcement applying from July to September.
The overall rate of inflation which came down in April was in large part thanks to the current higher cap which came into effect that month and brought prices down for energy users, the Office for National Statistics.
While the July figure is a reduction, bills are still more expensive than before the COVID-19 pandemic.
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