Relief for households as energy bills fall by £500 a year

MILLIONS of squeezed households will be £500-a-year better off when energy bills are slashed in July.

- Emily Braeger and Giles Sheldrick

After the cost-of-living battle, families have something to cheer about as experts predict utility rates will fall by 7%.

It means a typical household's bill will drop from £1,690 to £1,574.

It is £500 less than the cap in July last year, when it was £2,074.

Craig Lowrey, of market experts Cornwall Insight, said: "Our projections suggest that from July the average annual bill will fall by around £500 compared to last summer, offering further relief. Of course, we must recognise lower prices don't erase all problems.

"The very fact we are still seeing bill levels hundreds of pounds above pre-crisis levels underscores the ongoing challenges faced by households."