Household energy prices are expected to fall later this year
manchestereveningnews.co.ukHouseholds could pay less for their energy bills by the end of the autumn, according to new predictions. Ofgem is set to announce its new price cap on Friday, which energy consultancy firm Cornwall Insight states will dip to £1,925.
This would result in a 7 per cent reduction and would be the lowest cap since March 2022. However, experts have warned that the figure could mislead many billpayers.
It's important to note that the cap is not a wide-reaching maximum payment on bills, but dictates the maximum that is paid per unit of energy. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features Therefore, those who use less will pay less but those who use more will pay more.
Despite this, Ofgem recently reduced how much it assumes the average household uses which could reduce the price cap even further to £1,823.
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