£300-a-year cut will see energy bills at lowest level since 2022

MOST household energy bills could fall by nearly £300 a year when Ofgem reveals its latest price cap today.

- Steph Spyro

Experts at energy consultancy Cornwall Insight predict the industry regulator will lower the cap by 15% from £1,928 a year to £1,635 from April 1.

That annual saving of £293 will put bills at their lowest level since 2022.

And payments could carry on falling. Cornwall Insight said: "We are forecasting the cap will continue to decline in July, with a small rise in October.

"However, the latest projections indicate that the cap will stay below the current level until the end of the year.

"This suggests the UK has, for now, weathered the storm of Red Sea tensions, securing a steady supply of liquefied natural gas through the Atlantic."