"Adam Scorer, chief executive of the NEA warned this is a "false dawn," adding: "Any price drop is good news, but everyone knows that it will be overtaken by events. And the people who know that the best are those already struggling to afford their energy bills and know the real cost of an energy crisis.""
"Gordon Wallis, an energy expert at Your NRG said: "Many households have been dealing with high energy costs for a long time, so any drop in bills will be welcome. Although the reduction may seem modest month to month, it can still make a meaningful difference for households managing tight budgets.""
Ofgem has cut the energy price cap by approximately 7%, reducing the typical annual cost for dual-fuel customers from £1,758 to £1,641. This change results in annual savings of around £117, or just under £10 per month, affecting about 29 million households. The reduction stems from easing wholesale energy prices and policy adjustments. However, analysts caution that the benefits may not be evenly distributed, and many vulnerable households continue to face financial difficulties and energy-related debt.
Read at London Business News | Londonlovesbusiness.com
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