The energy price cap for July has finally been confirmed - with millions of Brits set to see their bills drop by over £400.
Ofgem has announced that its price cap will drop to £2,074 for 27million households on direct debit default tariffs - this is down from the current figure of £3,280.
From July the unit rate for electricity is falling from an equivalent of 50p per kilowatt hour (kWh) to 30p, and from 13p to 8p for gas - but the standing charge will stay at 53p and 29p.
