What is the energy price cap? How it affects your energy bills

Electricity pylons and corn fields
The energy price cap has now been set at £1,568 as of 1 July meaning energy costs are set to fall (Image credit: Getty Images)

The energy price cap, which limits the amount energy companies can charge households for their energy bills, has fallen to £1,568 as of 1 July 2024.

The announcement comes as part of Ofgem's quarterly update to the energy price cap. Despite the fall millions could still be left searching for energy saving tips to try to lower their bills as the level remains far higher than before the rise in 2022.

Joseph Mullane
News Editor

News Editor Joseph has previously written for Today’s Media and Chambers & Partners, focusing on news for conveyancers and industry professionals.  Joseph has just started his own self build project, building his own home on his family’s farm with planning permission for a timber frame, three-bedroom house in a one-acre field. The foundation work has already begun and he hopes to have the home built in the next year. Prior to this he renovated his family's home as well as doing several DIY projects, including installing a shower, building sheds, and livestock fences and shelters for the farm’s animals. Outside of homebuilding, Joseph loves rugby and has written for Rugby World, the world’s largest rugby magazine.

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