Energy regulator Ofgem has announced that its official price cap will decrease by almost £1,000 as of April, but millions of UK households will still see rises of £500 in their energy bills.
The body has confirmed that its cap will drop from £4,279 a year to £3,280 for the time period spanning April to July for dual fuel direct debit customers - mainly thanks to falling wholesale prices.
However, thanks to the Government's Energy Price Guarantee - which will see a rise of £500 from April, from £2,500 a year to £3,000 - bills will go up in the region of 20% for the average UK billpayer.
