Energy bills are set to decrease by 7% starting July, lowering the average bill to £1,720. Despite this reduction, Ofgem warns that many households may still overpay and encourages homeowners to consider fixed tariffs for potentially higher savings of up to £200 annually. While the price cap affects approximately 21 million homes, Ofgem emphasizes the importance of exploring better deals to avoid the pitfalls of default variable tariffs, especially for those who have had negative experiences or are in vulnerable situations.
"The first thing I want to remind people is that you don't have to pay the price cap - there are better deals out there, so it's important to shop around."
"Ofgem says customers could save up to £200 annually by locking in a fixed-rate deal, which provides price certainty for 12 months."
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