Energy bills ‘to tumble’

THE energy price cap could fall below £2,500 from July, analysis has suggested.

An unexpectedly warm winter and substantial levels of gas storage have caused gas prices to drop in recent weeks.

The price cap – the maximum energy suppliers can charge consumers for each kilowatt per hour of energy used but expressed as the amount a typical household would pay in a year – is forecast to fall to £2,478 according to financial services firm Investec.

The figure is more than £150 lower than its estimate made on January 4.

Their predictions suggest the price cap level will fall almost £1,000 to £3,317 in April before reaching July’s low, and then increase to £2,546 again in October as winter approaches.