I have really struggled to afford my energy bills over the last two years and was pleased to hear that the price cap will be lowered soon. However, I still don’t really know what this means for me and if I’ll see my bills come down. Can you help?
The new Ofgem energy price cap, which comes into effect on July 1, will mean that the annual bill for a typical household will fall to £2,074. This represents a 17 per cent reduction on the current level of £2,500 a year and follows recent falls in wholesale energy prices. Energy regulator Ofgem’s cap is …