Next week, the 'Energy Price Cap' will fall 7% from 1st July 2025, saving the average UK home £130 a year.
But, here is why this is a bad deal for more than 22 million UK homes. 👎
From 1st July 2025, the average annual energy bill will fall from £1,849 to £1,719.
However, this reduction masks the fact that customers can save DOUBLE that amount by switching to a cheaper "fixed rate" energy tariff, which costs the average home £1,575 a year (it was £1,534 when we drafted this post yesterday, showing how fluid the market is).
An extra £144 saving, taking the total to £274 per home!
Collectively, that would reduce energy costs for 22 million UK homes by a further £3.1billion making the overall savings a staggering £6billion.
Remember, the 'Energy Price Cap' is the maximum level energy suppliers can charge for customers on a 'Standard Variable Tariff'.
If you are on this tariff, you are guaranteed to make savings by switching to something else.
Don't get caught out by this latest 'Energy Price Cap' announcement.
Take the red pill. 🔴