Energy bills fall as new price cap comes into force

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Energy bills fall as new price cap comes into force

Post by newspotted »


By Kevin Peachey
Cost of living correspondent

A change to the energy price cap has come into force, reducing domestic gas and electricity bills - with a further, smaller fall expected this winter.

A household in England, Wales and Scotland using a typical amount of energy will now pay £2,074 a year, a drop of £426 a year.

Analysts at the consultancy Cornwall Insight suggest the typical bill could fall to £2,000 a year this winter.

However, that remains much higher than the pre-pandemic norm.

Charities and suppliers have warned that even though prices are falling, there is a still a risk that many people with stretched finances will struggle to pay.

The actual amount paid by households will vary depending on the amount of gas and electricity they use.

On Friday, the chief executive of British Gas-owner Centrica, Chris O'Shea, said the "first act" of the energy crisis was over but risks remained.

Energy UK, which represents suppliers, said hundreds of extra staff had been hired by companies to ensure support is available.

Government support, which limited bills to £2,500 in recent months, is no longer needed. There are no plans for the £400 discount on all bills which the government funded last winter, although cost-of-living payments will continue to be made to those on low-incomes and receiving certain benefits,

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