From today people in Wales will see big changes to their gas and electricity bills after a year of pain. Energy regulator Ofgem has brought in a new price cap from July 1, which should mean the average householder's annual bill dropping by £426.
The Government's Energy Price Guarantee has been set at £2,500, the average annual family bill for dual fuel direct debits, until the end of June. It will then be replaced by the new Ofgem price cap which is set at £2,074, Birmingham Live reported.
The cap does not set the maximum a household will pay for their energy but limits the amount providers can charge them per unit of gas or electricity, so those who use more energy will pay more. Natalie Mathie, at Uswitch.com, said: "The first price cap drop in two years is confirmation that the tide is finally turning for long-suffering energy customers. The average household can expect monthly direct debits to be set at £173, although typical seasonal usage may only see you spend £110 a month over the summer."
