Ofgem is lowering its energy price cap by 17 per cent from the current £3,280 per year to £2,074 for the average household in Scotland, England and Wales from July. The regulator announced its latest energy price cap last month, however, consumers are likely to feel little relief with bills remaining well above pre-pandemic levels.
Energy bills are expected to remain stubbornly high through the coming winter, at almost double the rates paid in 2020, and remain above pre-pandemic levels for the rest of the decade. The lower cap will replace the UK Government’s Energy Price Guarantee from July 1, which currently limits the typical household energy bill to around £2,500 and means the average household on typical usage will see their annual bill drop by £426.
But, with all that said, running household appliances will get cheaper from July. Experts at Forbes Advisor have looked at the average running cost for essential and luxury household appliances, including air fryers, lawnmowers, TVs, fridges, and hot tubs, to give people an idea of how much the costs will come down over the summer.
