Energy price cap: Average bills to fall by more than £100 - but predictions say they will rise again

The average annual energy bill will be £506 cheaper than a year ago from July, the sector's regulator has announced. The energy price cap - which limits what can be charged per unit of energy - is due to fall from the month after next. It means the average annual bill will be £1,568 a year, 7% less than at present. But while the July figure is a reduction, bills are still more expensive than before.

'The fall in the energy price cap reduces bills slightly, but our data tells us millions have fallen into the red or are unable to cover their essential costs every month,' said Dame Clare Moriarty, the chief executive of Citizens Advice. 'People cannot rely on lower energy prices alone to escape the financial issues they've been experiencing. That's why we need better targeted energy bill support for those really struggling to keep the lights on or cook a hot meal.

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Money blog: Energy bills to fall by more than £100 as new price cap announcedThe new energy price cap means average bills will be more than £500 cheaper than last summer. Read about this and the rest of today's consumer and personal finance news - and leave a comment - in the Money blog below.
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