Ofgem announced this morning that its price cap was going to drop to £2,074 from July and this is the first time energy bills have dropped in two years.
As the UK is under the Government Energy Price Guarantee, which is £2,500 for the typical annual bill, from July yearly energy bills will drop by around £426 - depending on your usage.
The price cap was something many of us did not think about when it first began in 2019 - however, the confirmation of how much our energy bills would be for the next few months almost became a national event before the Price Guarantee was introduced.
