Energy bills in Britain will be reduced from July 1

Energy bills in Britain will fall from 1^Eh In July, sector regulator Ofgem lowered the cap to match the price paid by most Britons as prices fell on the markets.

from 1 in the quarter^Eh from July to September 30, “The energy price cap will be set at an annual level of £2,074 [2 390 euros actuels] For a household using two fuels (electricity and gas) and paying by direct debit to reflect the recent fall in wholesale energy prices.’According to Ofgem, on Thursday 25 May.

The previous annual ceiling, which dates back to April, was set at £3,280 (€3,780). At the winter peak, the ceiling reached £4,279 (€4,930). The government set a £2,500 (€2,880) cap on taxes for most families, with the state subsidizing the differential to help Britons cope with the cost-of-living crisis.

“For the first time since the global gas crisis began eighteen months ago, prices are falling for consumers”welcomes Ofgem – which reviews its ceilings every three months – and acknowledges that they remain at historically high levels and that “Many families may still struggle to pay.”.

The highest inflation in the G7

While this drop will somewhat ease the living crisis, taxes are much higher than in Ukraine before the war and post-Covid recovery. Inflation in Great Britain is the highest among the G7 countries.

Rising energy bills have contributed heavily to inflation and the crisis in purchasing power in the UK and have also affected businesses. Inflation fell to 8.7%, falling below the 10% threshold for the first time since August, but slowing less than economists and the Bank of England had expected, especially as oil prices continued to accelerate food – 19% in April 2023 2023 during. One year, a record for forty-five years.

This should encourage the monetary authorities to further increase interest rates, which have already been raised twelve times in a row and currently stand at 4.5%.

believed “Encouraging to see the market stabilize and prices moving in the right direction”Ofgem chief executive Jonathan Brearley remains cautious in his statement, saying that“It is unlikely in the medium term” from “See Prices Return to Pre-Energy Crisis Levels”.