Ofgem's July price was introduced on Saturday, so how will this change affect your energy bills?
The new price cap sits at £2,074 - this means the average annual bill for the typical household will drop by around £426 from the previous rate of £2,500.
Although, it's always important to note that the price cap is not actually a "cap" - it's a cap on the amount energy providers can charge per kilowatt of energy.
This £2,074 figure is based on an "average typical household" and means if you use more energy you will pay more and if you use less then you pay less.
From July, Ofgem's cap for electricity is 30p per KWh and 8p per KWh for gas - the standing charge is 53p and 29p respectively.
To help get your head around the new rates and what they can mean for you, price comparison website Uswitch has provided the Daily Mirror with data on how much some of the most popular appliances will cost to run under the new price cap.
How much will appliances cost to run under the new price cap?
Airfryer (20 mins - 1.4kW)
- June - 15.2p
- July - 14p
Heated airer/clothes rack (one hour - 300W)
- June - 9.8p
- July - 9p
Dehumidifier (two hours - 185W)
- June - 12p
- July - 11.1p
Electric blanket (one hour - 100W)
- June - 6.5p
- July - 6p
Pressure cooker (one hour - 1kW)
- June - 32.5p
- July - 30p
Desk fan (nine hours a day for one week - 35W)
- June - 74p
- July - 67p
Hob (20 minutes - 1.5kW)
- June - 16.1p
- July - 15p
Plug in heater (one hour - 2kW)
- June - 65p
- July - 60p
Plug in air-cooler (nine hours a day for one week - 75W)
- June - £1.58
- July - £1.43
Tumble dryer (one cycle - 3.02kW per cycle)
- June - 99.7p
- July - 90.6p
Oven (one hour - 2kW)
- June - 66p
- July - 60p
Dishwasher (one cycle - 0.79kW)
- June - 26.7p
- July - 23.7p
Vacuum cleaner (one hour - 750W)
- June - 24.4p
- July - 22.5p
Lights (eight hours a day for one week - 3.5W LED bulb)
- June - 6.6p
- July - 6p
Ofgem's next price cap will announced in August and will cover the months from October until December.
