Rolling coverage of the latest economic and financial news, with energy regulator expected to lower energy bills for typical household to £2,053 a year
Around 6.5m households will still be in fuel poverty, analysts estimate, even once bills fall in July.
At more than £2,000, typical energy bills will remain almost double the level they were at before Russia began restricting gas supplies to Europe as it prepared to invade Ukraine. In October 2021, the typical household paid £1,271 a year for gas and electricity, my colleague Jillian Ambrose explains.
“It is good news energy prices are no longer spiralling but the energy crisis is far from over.”
“The price cap may be down but energy bills for millions of households will still be crippling.
“In this moment of crisis we needed a powerful energy regulator which would be on the front foot fighting the profiteering of the UK’s energy companies. Instead we have a regulator that won’t regulate, rampant Big Energy plundering the economy and a government that’s permanently looking the other way.
