Energy price cap to fall by as much as 7 per cent, according to predictions

The energy price cap could by over £100 a year in a couple of months, according to latest predictions.

It highlighted that while a reduction in a price cap would be positive for billpayers, it still fails to drop bills to the pre-crisis levels. It has also raised concerns over the ongoing affordability of energy bills.Dr Craig Lowrey, Principal Consultant at Cornwall Insight: “When faced with headlines announcing minor changes to the cap it can be easy to overlook the broader trend of declines.

“While the cap is certainly not the ticket back to long-term energy bill affordability, Ofgem’s review could pave the way for fairer, more efficient energy bills. However, given the breadth of reforms being considered by the regulator, it is worth remembering that such changes will inevitably lead to trade-offs.

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