UK Energy Price Cap to Drop 7% in July

Analysts predict the average annual household energy bill will fall to £1,574, but costs remain higher than pre-crisis levels.

The new price cap is expected to save households over £100 annually compared to current rates.
Despite the reduction, bills will still be £400 higher than in summer 2021.
Ofgem is reviewing the price cap mechanism and considering reforms targeting vulnerable households.
The cap is projected to rise slightly in October before falling again in January 2025.
Experts emphasize that while prices are decreasing, energy costs remain a significant burden for many households.