Households across the country will see a major change to their energy bills this weekend.
From Saturday, July 1, households will pay less for gas and electricity. The average household energy bill will fall by £426 a year following Ofgem's new price cap of £2,074 coming into place.
The energy regulator is cutting its price cap from £3,280 per year, providing some relief to customers who have seen energy bills soar from £1,271 a year in October 2021 due to a global pricing crisis. However, households have somewhat been protected by worsening prices due to the government's Energy Price Guarantee which capped them at £2,500 - this will no longer be in place as Ofgem's price cap will fall below the EPG.
