British Gas owners have warned that energy prices are still 'significantly above the long-term average' despite the cost of bills dropping from Saturday.
Centrica said energy bills are set to remain high for the foreseeable future but the worst of the recent energy crisis has passed. It comes as the average household energy bill will fall by £426 a year from July 1 after Ofgem dropped its price cap following tumbling wholesale prices.
But energy prices will remain almost double the levels seen before the invasion of Ukraine sparked the energy crisis. Chris O’Shea, chief executive of energy giant Centrica, said prices will drop but remain significantly above the longer-term average.
