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Household energy bills in Great Britain will fall by 7% from July, Ofgem has confirmed. The typical bill will drop by £129 to £1,720 per year when the regulator’s new price cap which sets the limit on how much firms can charge customers per unit of energy comes into force. This is £660, or 28%, lower than at the height of the energy crisis at the start of 2023 when the government implemented the energy price guarantee. However, prices remain elevated with the upcoming level £152, or 10%, higher than the same period last year. Tim Jarvis, director general of markets at Ofgem, said: ‘A fall in the price cap will be welcome news for consumers, and reflects a reduction in the international price of wholesale gas. However, we’re acutely aware that prices remain high, and some continue to struggle with the cost of energy. ‘The first thing I want to remind people is that you don’t have to pay the price cap there are better deals out there so it’s important to shop around, and talk to your existing supplier about the best deal they can offer you. And changing your payment method to direct debit or smart pay as you go can save you up to £136. ‘In the longer term, we need an energy system where prices are insulated from the volatile international gas market, and which ensures more stable prices and energy security. And we’re working closely with government to get the investment we need to reach our clean power and net zero targets as quickly as possible. ‘We’re also doing everything we can to support consumers today and pushing ahead with more changes to help consumers. This includes working on ways to support those trapped in energy debt and bringing in reforms to standing charge tariffs for this winter.’ By Josie Clarke, PA Consumer Affairs Correspondent Press Association: Finance source: PA Copyright 2025 Alliance News Ltd. All Rights Reserved.
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