From today people in Wales will see big changes to their gas and electricity bills after a year of pain. Energy regulator Ofgem has brought in a new price cap from July 1, which should mean the average householder's annual bill dropping by £426.
The Government's Energy Price Guarantee has been set at £2,500, the average annual family bill for dual fuel direct debits, until the end of June. It will then be replaced by the new Ofgem price cap which is set at £2,074, Birmingham Live reported.
The cap does not set the maximum a household will pay for their energy but limits the amount providers can charge them per unit of gas or electricity, so those who use more energy will pay more. Natalie Mathie, at Uswitch.com, said: "The first price cap drop in two years is confirmation that the tide is finally turning for long-suffering energy customers. The average household can expect monthly direct debits to be set at £173, although typical seasonal usage may only see you spend £110 a month over the summer."
Read more: Seven money changes set to hit your bank account and wallet this month
Energy prices can vary across the UK due to limits on how much gas and electricity companies can sell in any given region, variations in the cost of energy sold by the National Grid, and how much the local energy distributors charge suppliers for that energy. Here are the figures for the nation as a whole and also for the Midlands. You can get more story updates straight to your inbox by subscribing to our newsletters here.
Exact amounts you will pay for gas and electricity
Here are the figures for gas and electricity unit rates and standing charges as they are now (until June 30), and after July 1. We've included the national average figure for people who pay by direct debit, prepayment, and on receipt of a bill.
National
Current Energy Price Guarantee rates until June 30
DIRECT DEBIT
Gas: 10.31p per kilowatt hour (kWh), standing charge 29.11p per day
Electricity: 33.21p per kWh, standing charge 52.97p per day
PREPAYMENT
Gas: 10.55p per kWh, standing charge 37.80p per day
Electricity: 32.05p per kWh, standing charge 58.08p per day
PAY ON RECEIPT OF A BILL
Gas: 10.98p per kWh, standing charge 34.34p per day
Electricity: 35.90p per kWh, standing charge 59.51p per day
New Energy Price Cap rates from July 1
DIRECT DEBIT
Gas: 7.51p per kilowatt hour (kWh), standing charge 29.11p per day
Electricity: 30.11p per kWh, standing charge 52.97p per day
PREPAYMENT
Gas: 7.11p per kWh, standing charge 37.80p per day
Electricity: 29.06p per kWh, standing charge 58.08p per day
PAY ON RECEIPT OF A BILL
Gas: 7.91p per kWh, standing charge 34.34p per day
Electricity: Unit rate 31.72p per kWh, standing charge 59.51p per day
