Ofgem energy price cap to give UK households summer cost of living boost

The Ofgem energy price cap will fall again from July. Here's what it means for your gas and electricity bills.

The Ofgem energy price cap resembled by a meter with GBP pound coins stacked nearby
The new Ofgem energy price cap will come in from 1 July (image: Getty Images)
(Image credit: Getty Images)

Most households will enjoy a cost of living boost this summer after it was announced the Ofgem energy price cap will fall 7%.

The news means the average home's gas and electricity bill will drop £122 a year (£10 a month) to £1,568 in July. It follows a 12% fall in the cap in April. The fall was on a par with what experts had predicted, and came as wholesale prices trickled down to within touching distance of pre-crisis levels.

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Ofgem energy price cap unit rates (July to September)
FuelPrice per kilowatt hour (kWh)Standing charge (per day)
Gas5.48p31.41p
Electricity22.36p60.12p

Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.