Many billpayers could see a reduction in their energy bills from July
Since October 2022, billpayers across the country have been benefiting from the Energy Price Guarantee.
Despite this increase, billpayers will no longer be required to rely on the Energy Price Guarantee because the Ofgem price cap from July will be lower than the EPG at £2,074 for average use. It's important to note that this price cap will not be a flat rate on what you pay on bills per year, and may vary depending on how much energy you use.The lower price cap reflects the trends in wholesale energy prices which have fallen from their peaks in the summer of 2022.
If you took on a fixed rate in the past year when energy bills were dramatically high, you may have seen subsidies on your bill via the EPG. From July 1, that subsidy will be reduced to zero which means you will pay the original price of your fixed rate. Forecasters are currently predicting that household bills will remain high for the coming month
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