Energy price cap means bills have fallen – but experts warn costs will soar later

The energy price cap is increasing – but experts warn it could jump again later in the year The energy price cap will fall by 7 per cent today but experts have warned that households are still paying around 40 per cent more

This is because they have paid almost £2,000 more, or an average of £650 a year, for energy, according to analysis by the Energy and Climate Intelligence Unit . Simon Cran-McGreehin, the head of analysis at ECIU, said: “The UK’s high dependence on gas for electricity generation and heating has cost bill payers £2,000 so far during the gas crisis and the economy as a whole tens of billions of pounds.”

Mr Cran-McGreehin added: “Common sense measures like investing in insulating the poorest homes, switching to electric heat pumps and fast-tracking British renewables will leave us less vulnerable to the whims of the international gas markets.”

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