A silver Kia crashed into the gates of Downing Street at around 4.20pm. This aerial footage shows the crash site and police presence outside Downing Street following the incident. Read more 👉
Unit prices for gas and electricity are going down by around 3p.So for every £100 you were paying for energy, you will now only pay £83, he says.While wholesale prices were still high, in October 2022 the government intervened to reduce bills as far as possible by subsidising them.
That support - of £400 over six monthly instalments - comes to an end on 30 June - which means the price cap comes back into play.The answer is yes, but not lower than they were before the Ukraine war and the wholesale price hike. The price cap on standing charges is also staying the same from 1 July, which will hit lower-income households hardest.Speaking to Sky News on Thursday, Ofgem chief executive Jonathan Brearley said the country needs to accept that it has seen the"most dramatic change in prices in our history" and we are now in a"different phase in the gas crisis" as a result of the war and spiralling inflation.
"Energy bosses expect wholesale prices to remain stable for the rest of the year and the markets agree, with forward curves broadly level. Natalie Mathie, an energy expert at the comparison site Uswitch, says:"This is a watershed moment for energy suppliers who can now look to start offering fixed deals again, given the market conditions - and would help to encourage genuine competition in the retail energy market.
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