Ofgem announced a 7% reduction in household energy bills effective July, lowering the typical yearly bill to £1,720. This drop is attributed to declining wholesale gas prices, though officials acknowledge that many households continue to grapple with high energy costs. Consumers are encouraged to seek better deals and consider alternative payment methods for potential savings. Long-term reforms for energy pricing and security are essential, while support for those in energy debt is also prioritized. Critics caution that even with price decreases, costs remain 52% above pre-crisis levels, affecting millions still unable to pay bills.
Tim Jarvis emphasized that while the reduction in the price cap is a positive step for consumers, many are still struggling with high energy costs.
Clare Moriarty cautioned that despite the price drop, bills remain significantly higher than pre-crisis levels, stressing that many families are still facing financial difficulties.
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