On 1 July 2023 a new energy price cap comes into play, which will see the unit cost of electricity reduce from 34p to 30p per kilowatt hour. This will bring the price cap for an annual gas and electricity bill down to £2,074.
Although energy rates are expected to remain high for the remainder of the decade, the lowering of the price cap does mean that the overall cost of running the appliances in your home will be slightly less from July – welcome news for homeowners and bill payers.
Nick Small, appliances expert at AO.com shares more info on what this change means for the running of everyday household appliances, along with some top tips for consumers wanting to save money on their energy bills: “The new energy price cap offers a bit of good news for homeowners and billpayers, with the typical household gas and electricity bill being capped at £2,074 per year.
