People will still pay per unit of electricity or gas that they use The energy bill for an average British household will fall by 7% this summer, after the regulator Ofgem cut its price cap. Currently, the cap for a typical ‘dual fuel’ home is £1,690 – but from July, that will drop to £1,568. Most homes won’t be paying that precise amount, as the figure is based on an average of energy usage. But bills should tumble around the country as a result.
The regulator’s boss Jonathan Brearley told MPs on Wednesday that the price is still ‘significantly higher’ than before disruptions like the Ukraine war and Covid, and that the ‘best estimate is that prices are going to stay high and volatile over time’. Analysts believe it’s likely the cap will be increased again in October before it potentially falls again in January next year.
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