US EditionMartin Lewis Shares 'Not Great News' After Energy Price Cap Change - Liverpool Echo
- Starting July 1, millions of people in the UK will benefit from a 7% decrease in their energy expenses, with the average direct debit payment dropping from £1,849 to £1,720.
- This price cut follows earlier rises and occurs within a system introduced by Ofgem in 2019 to cap excessive charges on variable tariffs.
- Despite the July cut, experts warn the Energy Price Cap may rise by 2% to 3% in October, largely driven by higher wholesale gas prices amid Middle East conflict.
- Ofgem's Tim Jarvis welcomed the cap reduction as linked to lower international gas prices but noted that energy costs remain high and many struggle to pay.
- This mixed outlook suggests households will benefit from summer savings but may face cost increases later, highlighting the need to shop around for better deals.
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Craven Herald+17 Reposted by 17 other sources
Warning that energy price cap could increase again this year in 'not great news'
Experts are warning that the Energy Price Cap could rise again in October 2025, by around 3.
·Skipton, United Kingdom
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