Ofgem has announced its price cap will fall by almost £1,000 from April, although energy bills for homes are still set to rise by £500.
The energy regulator confirmed its price cap will drop from £4,279 a year to £3,280 from April to July for a dual fuel customer paying by direct debit, thanks to falling wholesale prices. But households are currently covered by the Government Energy Price Guarantee - which is set to increase from £2,500 a year to £3,000 from April.
This means bills will go up by around 20% for the average home, the Mirror reports.
