UK household energy bills to fall in July, bringing some relief in cost-of-living crisis

Britain’s energy regulator says the typical household energy bill will come down by around $495 a year starting in July as global wholesale energy prices decline. The drop announced Thursday brings some relief to millions of people and businesses that have struggled to cope with sharply higher electricity and gas bills over the past 18 months. But many on lower incomes are still in the throes of a lingering cost-of-living crisis, as food prices soar at the fastest rate in decades. The energy regulator says it was cutting the maximum amount that gas suppliers can charge households per unit of energy to $2,567 a year starting July 1. The average customer will pay about 17% less a year.