Overview

• Ofgem’s energy price cap will fall by 7% from July 1, lowering the annual limit from £1,849 to £1,720 and saving a typical dual-fuel household £129 until September.
• Electricity unit rates will drop to 25.73p per kWh and standing charges to 51.37p per day, while gas unit rates fall to 6.33p per kWh with a daily standing charge of 29.82p.
• More than seven million households on standard variable tariffs without smart meters risk overpaying up to £1.93 per week unless they submit meter readings by July 1.
• Experts warn that rising wholesale gas costs could drive a further price cap increase when the next review takes effect in October.
• Proposed flexible pricing plans backed by the Resolution Foundation could introduce time-of-use tariffs and zonal rates to encourage off-peak consumption and offer long-term savings of up to £200 annually.