Ofgem energy price cap will fall to £1,574 a year this summer, say analysts

If it were set at £1,574 a year, the energy price cap would be 25% lower than last summer. Photograph: Jacob King/PA

Energy bills in Great Britain are expected to fall by 7% this summer – the equivalent of more than £100 a year – after a drop in wholesale gas prices, but will remain hundreds of pounds higher than pre-crisis levels.

Analysts at Cornwall Insight, a well-respected energy consultancy, have forecast that the government’s energy price cap will fall to £1,574 a year for the average dual-fuel energy bill from July from its current level of £1,690.