Drop from £1,690 driven by fall in wholesale gas prices but household bills still substantially higher than three years ago. The energy price cap in Great Britain will fall 7% to the equivalent of £1,568 a year this summer after a drop in wholesale gas prices. The cap, which is set quarterly, will fall by £122 in July from its current level of £1,690, easing the pressure on household finances. Although that represents a fillip for hard-pressed consumers, it still leaves bills far above the £1,154 cap in the summer of 2021, before the energy crisis. Wholesale gas prices began to rise sharply in 2021 and escalated after Russia’s full-scale invasion of Ukraine in early 2022.
