Average household energy bills will fall by £426 a year from July, after Ofgem drops its price cap.
The regulator revealed plans to cut its price cap from £3,280 to £2,074 from July 1, following tumbling wholesale prices – the first time consumers on default tariffs will have seen prices fall since the global gas crisis started more than 18 months ago (the cap reached £4,279 at its peak).
