People are being urged to take meter readings in the coming days as energy bills are predicted to finally fall. Households are being warned to take a reading ahead of the upcoming changes to the energy price cap.
The price cap, which is set by regulators Ofgem and dictates how much the typical household pays for gas and electric, is changing from Saturday, July 1 for the period until September 30. From this weekend the typical energy bill will fall to £2,074 equivalent per year - about 17% less than the current £2,500 typical household bills are capped at by the government's energy price guarantee.
The price guarantee was introduced last year in a bid to curb soaring energy costs for customers, whose average bills are capped at whichever is the lowest between the guarantee and the price cap. The price guarantee will rise from £2,500 to £3,000 from July, meaning households will revert to the price cap again.
