Brits could expect to pay less on their bills from July - as Ofgem is set to confirm the new energy price cap within days. There could be a decrease of £1,227 from the April cap, as per predictions made by market analyst Cornwall Insight.
Consumers are not directly affected by the price cap due to the Government’s energy price guarantee (EPG). This limits a typical household’s energy bill to the equivalent of £2,500 per year, reports Lancs Live.
However, starting from July, household bills will revert to the price cap, Cornwall Insight said. Ofgem's announcement will be made on Thursday (May 25).
