Energy bills may drop dramatically from the start of July, according to new analysis released this week.
Energy industry consultancy Cornwall Insight said it thinks the price cap on energy bills could fall by more than £1,200 for the average household following the next update. Despite this, the government bill support, which artificially lowered bills, will disappear.
This means the average household will only be around £437 better off per year on average. The analysts at Cornwall said they expect the price of electricity will drop to 29.55p per unit from the start of July from 33.2p today with government support.
