Gas prices are dropping to their lowest levels since before the war in Ukraine which may mean households will pay less on their energy bills in the second half of this year but support is still needed now.
According to Investec the energy price cap, which sets a maximum price that energy suppliers can charge consumers for each kilowatt hour of energy they use, could be as low as £2,600 per year from July. Currently the cap, set by regulator Ofgem, is at an annual level of £4,279 until March, 2023.
Despite there being a glimmer of hope for the future of consumer's energy bills, support is still needed for many across the UK. The government has announced new cost of living payments, totalling to £900 for those who receive benefits and are on low incomes.
