The average household energy bill is to fall by 7% from July after Ofgem lowered its price cap in response to wholesale prices.The regulator announced it is dropping its price cap from the current £1,690 for a typical dual fuel household in England, Scotland and Wales to £1,568, a drop of £122 over the course of a year.This is around £500 less than the cap in July last year, when it was £2,074.

The average household energy bill is to fall by 7% from July after Ofgem lowered its price cap in response to wholesale prices.The regulator announced it is dropping its price cap from the current £1,690 for a typical dual fuel household in England, Scotland and Wales to £1,568, a drop of £122 over the course of a year.This is around £500 less than the cap in July last year, when it was £2,074.