It might not feel like it, but the prices families in the North East pay for their energy are among the lowest in the country and this will continue after July 1.
Regulator Ofgem last month confirmed that the energy price cap will fall below the Energy Price Guarantee (EPG) from July, which means most households will once again pay the rates set by the price cap. The average bill will drop by 17% but what you actually pay will depend on your usage, where you live and how you pay.
Currently, the EPG, a state-subsidised discount off the price cap rates, keeps a typical household bill at £2,500/year. But from July, the price cap will fall below this to £2,074/year for an average household – although what you pay will still depend on how much energy you use, as the cap just fixes the tariff you pay, not the size of your bills.
