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UK household energy bills to fall after Ofgem lowers price cap 7pc
- Ofgem will announce on Friday a new energy price cap for households in England, Scotland, and Wales, effective from July.
- This announcement follows three consecutive increases in the cap, which were influenced by fluctuating global gas and oil prices and trade tensions.
- The updated cap is expected to reduce typical annual household energy bills by about £129, or nearly 7 percent, bringing the average bill to approximately £1,720.
- Craig Lowrey of Cornwall Insight commented that the recent decrease in the energy price cap is a positive move, providing relief to families following an extended time of elevated energy expenses.
- While the price cut provides some relief amid rising living costs, many households still face affordability challenges due to accumulated energy debt and high bills compared to earlier years.
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32 Articles
32 Articles
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Center
11
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Ofgem’s 7 Percent Energy Price Drop Isn’t a Win for Consumers: Experts
A 7 percent reduction in energy prices announced by Ofgem simply restores prices to where they were at the beginning of the year, leaving energy bills higher than they were 12 months ago, experts have warned. From July to Sept. 30, the typical household paying by Direct Debit will save £11 a month, the regulator said on Friday. Prime Minister Sir Keir Starmer described the announcement on social media platform X as “welcome news, saving money fo…
·New York, United States
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Total News Sources32
Leaning Left7Leaning Right4Center11Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 32%
C 50%
R 18%
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