25 May 2023

Ofgem drops energy price cap: how will it affect consumers?

Senior Political Correspondent

Gas and electricity bills for the average household will go down to just over two thousand pounds a year after the energy regulator Ofgem dropped its price cap.

The move, made in response to falling wholesale prices, means from July an average family would expect to pay 400 hundred pounds a year less than it does now.

But even after July most people will still be paying much more than they were before the energy crisis hit in October 2021.