The cap which sets typical household energy bills is expected to drop sharply from July.
Households will see a significant fall in their energy bills from July after a drop in the price cap, which limits how much suppliers can charge households for each unit of energy they use.It will mark the end of a government's Energy Price Guarantee which, since October, has limited the typical bill to £2,500.
Because the wholesale prices paid by suppliers have fallen, forecasters expect the typical annual bill to drop to about £2,050. Energy is regulated separately in Northern Ireland, where bills will be held at £1,950 per year for an average household.That is impossible to tell for certain, not least because wholesale prices are affected by global issues, such as the war in Ukraine.
It does not expect energy prices to return to pre-Covid levels before the end of the decade at the earliest.
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