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Annual energy bill to fall by more than £100 in April as government removes policy costs
Government budget measures remove 75% of renewables obligation costs from energy bills, lowering the price cap and cutting annual bills by £138 for typical households, Cornwall Insight said.
- In April, Cornwall Insight forecast that annual energy bills will fall by �138, reducing costs for a typical dual-fuel household to �1,620, following budget measures shifting levies to general taxation.
- Following the budget, the UK government removed levies funded through the renewables obligation scheme and scrapped the Energy Company Obligation, saving households £150 from April.
- Ofgem sets the cap every three months and, in recent weeks, Cornwall Insight said wholesale energy prices and smaller levy rises contributed to the lower April forecast.
- If the forecast proves correct, yearly bills will be at their lowest since July 2024, and Cornwall Insight's Craig Lowrey said the April cut eases pressure and moves toward the government's £300 pledge.
- Despite the April fall, leading energy suppliers warn bills will rise in coming years as costs shift to taxpayers, while wholesale prices eased partly due to liquefied natural gas from the United States.
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·Whitehall, United States
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Total News Sources7
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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