Ofgem confirms energy bills are set to fall by £129 under latest price cap
Energy bills to fall for millions under Ofgem’s latest price cap
- Ofgem announced a £129 decrease in the energy price cap, lowering typical annual bills to £1,720 starting in July.
- This 7% reduction follows three consecutive price cap increases and is attributed to slumping gas and oil prices influenced by US President Donald Trump's tariff policies.
- Despite the decrease, concerns remain about the affordability of energy, especially considering recent increases in other household expenses like water bills and council tax.
- Experts and advocates argue that the reduced cap is insufficient to alleviate the cost-of-living crisis for many households, particularly those with children or facing energy debt.
- Calls for further government support and long-term solutions, such as energy efficiency upgrades and market reforms, are being made to address the ongoing energy affordability challenges.