UK Energy Bills to Fall 7% as Government Shifts Green Costs
Electricity pylons next to a new house on a residential housing development in Bramford, UK.
Photographer: Chris Ratcliffe/BloombergUK energy bills will drop to the lowest in almost two years in April, after the government moved part of the cost of supporting renewable energy from household bills to general taxation.
The energy price cap — the maximum suppliers can charge — will fall 7% to £1,641 ($2,219) from April 1, Ofgem said in a statement on Wednesday. Measures taken in November to reduce customers’ bills are a key driver of the decline in the price cap, which is reviewed every three months.