Energy regulator Ofgem has confirmed that the new price cap, due to be announced tomorrow, May 25, will "drop considerably" - but families will have to wait another two months before they start to see their bills fall.
After nearly two years of rises, energy experts Cornwall Insight have predicted that the price that households pay for energy will finally drop to around £2055 a year for the average family and although Ofgem has not revealed the final new price cap amount, its strategy head confirmed that "what we currently pay will come down considerably" when pressed by Martin Lewis on Good Morning Britain.
If Cornwall's predictions are correct, for every £100 you pay on energy now, you'll pay £80 - £85 from July. However, according to Martin Lewis, it's less likely that standing charges will drop, so families will still pay around £300/year just for the facility of having gas and electricity. supplied to their home, even after July.
