Overview

• The new price cap announced by Ofgem will lower the average annual dual fuel energy bill by 12%, saving households approximately £20 a month.
• Despite the reduction, energy bills are still significantly higher than before the energy crisis, with many households struggling to escape fuel poverty.
• Ofgem introduces measures to make the energy system more resilient and fairer, including a temporary payment to help prevent unsustainable situations leading to higher bills.
• Consumer confidence in the UK dips as economic concerns grow, with the German economy also experiencing a downturn.
• Experts predict the fall in energy bills will help reduce inflation, potentially leading to a summer interest rate cut.