Ofgem statement on price cap

An Ofgem spokesperson said:

“This remains one of the most difficult and volatile periods in history for energy consumers. And while bills remain higher than before the energy crisis, it is great news that people will see them drop by £460 a year on average from 1 July with more fixed deals coming back onto the market too.

“As energy regulator, we have taken a range of steps to stabilise the market and protect vulnerable consumers. We will also continue to support energy customers by passing savings from drops in wholesale prices onto customers more quickly through the quarterly price cap. Anyone struggling to pay their bills should reach out to their supplier as soon as possible.”