Research, from Compare the Market, found that households can expect to save £350 on household bills this year
The annual cost of household bills is predicted to drop by £350 compared to the same time last year, research has revealed.
The decline is fuelled primarily by a drop in the cost of energy, with Ofgem’s latest price cap hitting its lowest mark in more than two years.stands at £1,690 per year for the energy used by an average household, whereas the price cap in April 2023 was at £2,500. Andy Hancock, Chief Growth Officer at Compare the Market, comments: “The predicted fall in annual bills overall is a rare piece of good news following the continuous long-standing pressure on household budgets.
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