Ofgem energy price cap to fall by £122 a year for millions from July

The average household energy bill is to fall by 7% from July after Ofgem lowered its price cap in response to wholesale prices.

Citizens Advice chief executive Dame Clare Moriarty said: "Today’s news will give small comfort to households still facing cost-of-living pressures. 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."People cannot rely on lower energy prices alone to escape the financial issues they’ve been experiencing.

The price cap does not limit a household’s total bills, people still pay for each unit of gas and electricity they use – the figures provided are just for an average-use household. Mike Thornton, chief executive of the Energy Saving Trust, said: "Today’s confirmation that energy prices are coming down for the next quarter is very welcome. However, no-one should take this lower price cap as a sign of stability.

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