Brits should soon see their energy bills fall after Ofgem announced its latest price cap - but there is a warning the news is not 'a sign of stability'.
The energy regulator has lowered its price cap in response to wholesale energy prices. In an announcement made this morning (May 24), Ofgem confirmed the average household energy bill will fall by seven per cent from July.
The price cap will fall from £1,690 for a typical dual fuel household in England, Scotland and Wales, to £1,568. That represents a drop of £122 over the course of a year - and is around £500 less than the cap in July last year, when it stood at £2,074.
However, the cap is expected to rise again later this year, and experts say energy prices will remain higher than in previous years. READ MORE: 'I'd always been a curvy girl.
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