Energy bills are expected to tumble this July, as tariffs are set to fall, signalling a much needed and welcome respite to recent months.
New forecasts show that a typical household will fall by nearly £450 from July. Consultancy firm Cornwall Insight predicts bills could drop by as much as £446 under a new official price cap set to be announced by Ofgem on 25 May.
At present, a typical user pays no more than £2,500 a year for their energy because of the Government’s Energy Price Guarantee. Analysts predict the new price cap will be set at £2,054 for July.
And the trend is set to continue, with a further expected fall in October, ahead of Winter to a new cap of £1,976. However more will need to be done with many families still forecasted in the UK still to be in fuel poverty.
