Families’ energy bills to fall by £122 as new energy price cap announced

Gas and electricity bills will fall for households this summer, after the UK’s energy watchdog Ofgem announced a new energy price cap. The cap is falling by 7% on 1 July, meaning energy bills will be the lowest they’ve been for two years. The annual cost for an average household’s energy bills will fall from £1,690 to £1,568

It affects the per unit cost of energy as well as the daily standing charge – this means your bills can go up or down when the energy price cap changes. What does this mean for my family? Money saving expert Martin Lewis has explained what this means for most households. What should I expect throughout the year? Experts believe that the price cap will rise again in October, possibly up 12% from the July rate.

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