Energy Price Cap Drops, But Higher Bills Expected This Winter

UK households see temporary relief as Ofgem lowers the price cap, but experts warn of significant increases in the coming months.

The new price cap reduces average annual energy bills to £1,568, saving typical households £122 compared to the previous cap.
The cap is a temporary measure, with analysts predicting a potential rise of up to £600 in annual bills by October.
Wholesale gas prices and competition for LNG, particularly from China, are driving factors behind the expected increase.
Experts and consumer groups suggest considering fixed-rate deals as an alternative to the price cap.
The ongoing energy crisis has cost UK households significantly, with further economic impacts anticipated.