Some good news for readers heading in to the weekend. From April Fool’s Day, energy bills for most households in Britain will fall by £238 to an average of £1,690 a year, the lowest since Russia invaded Ukraine as the energy price cap is lowered. Still, the price cap is over £1,000 more than it was in 2022, the real impacts on peoples’ wallets will follow what Hunt decides to do in March.

Ofgem cut the price cap by 12% as wholesale gas prices continue to drop, thanks to ample liquefied natural gas imports from America and robust European gas storage levels. Just imagine what the price would be if we tapped into more of our own natural gas…