💨 Abstract

In July, energy bills in the UK are set to decrease by approximately 7%, reducing annual costs for typical households by £129. This follows Ofgem's reduction in the energy price cap, influenced by lower global wholesale energy prices and changes in supplier costs. Despite the decrease, bills remain 9% higher than last year and significantly higher than pre-crisis levels. Ofgem encourages consumers to seek better deals and switch payment methods to save more.

Courtesy: Sara Odeen-Isbister