Michael Lewis Britain Coronavirus covid-19 experts Bill Michael Lewis Britain

Energy bill prices slashed by £85 a year for millions after slump in demand

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coronavirus, energy bills will drop for millions of Brits this week. After lockdown led to lights going out at businesses across the UK, a leading supplier predicts a 7.5% cut in standard variable tariffs.E.ON says a fall in demand from the commercial sector will be reflected in lower rates when Ofgem reveals its new price cap on Friday.It is believed around 11 million households are on a default SVT which has led to families paying too much for gas and electricity.Last year, Ofgem brought in a price cap to protect Brits from being overcharged.And now E.ON says these bills will come down by the equivalent of a month's energy use – around £85.Michael Lewis, E.ON boss, said: "While wholesale prices have continued to fluctuate, we saw.

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