New Ofgem price cap will see annual household energy bills drop by £122 from start of July
dailyrecord.co.ukOfgem has announced household energy bills will fall by 7.2 per cent from the start of July, but remain around 40 per cent higher than pre-gas crisis levels.
The sector regulator confirmed on Friday morning that annual energy bills for millions of households on the standard tariff, with typical average usage, will drop from £1,690 to £1,568 from July 1 - a saving of £122 over the coming year.
It’s crucial to remember that the price cap does not limit a household's total bills, people still pay for each unit of gas and electricity they use.
The more energy you use, the higher the bill, similarly, the less you use, the lower the bill. Standing charge for electricity will go up from 60 pence per day to 60.12 pence (22.36 pence per kWh), while the standing charge on gas will rise from 31 pence per day to 31.41 pence (5.48 pence per kWh).
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