Great Britain's energy price cap will fall to £2,074 a year, this summer. However, households could see little relief, as the government-imposed energy price guarantee (EPG), will come to an end at the same time. 

The lowering of the energy price cap could mark the first time consumers on default tariffs have seen their prices fall since the global gas crisis took hold more than 18 months ago, due to rising inflation and the invasion of Ukraine.  

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.

At its peak, the price cap reached £4,279, and “whilst today’s level is lower than last quarter, it is still above the levels it was before the energy crisis took hold, meaning many households could still struggle to pay bills”, the regulator said.

Over the last year, consumers have been shielded from the dramatic rise in energy bills by the EPG, which limited...