Britain’s household energy price cap is set to fall by 12 per cent in April following a drop in wholesale gas and electricity prices.
Ofgem, Britain’s energy regulator, has set the price cap for the April to June period at £1,690 per year for a typical household, down from £1,928 currently.
It marks the lowest level since March 2022 when it was £1,216.
However, it remains well above typical levels of below £1,200 before the energy crisis that began in the winter of 2021 as wholesale prices rose.
National Energy Action, a fuel poverty charity, warned that 6mn households would still be in “fuel poverty” from April — defined as spending 10 per cent or more of income on energy.