UK Energy Bills to Drop Significantly in April, Forecasts Show

Forecasts predict a nearly £300 annual decrease in household energy bills, marking the lowest rates in over two years.

Cornwall Insight forecasts a 15% reduction in energy bills from April, with the typical annual bill falling to £1,635.
The decrease is attributed to a mild winter, high gas storage levels, and less disruption from Red Sea tensions.
Ofgem's price cap, affecting 29 million households, is set to be announced next week, with further reductions expected in July.
Despite the drop, energy prices remain above pre-pandemic levels, and the UK's reliance on gas imports keeps the system volatile.
Consumers currently owe an estimated £2.9 billion to energy suppliers, with Ofgem proposing a cap lift to cover bad debts.