This follows Ofgem, the UK's energy regulator, confirming that the April price cap will drop by 6.7% from April 1 for a three-month period. However, Martin Lewis insisted "that's only half the story" and said it is important for people to understand what this actually means for homeowners, as it could lead to substantial savings.

During the three-month period, gas prices are capped at 5.74p per kilowatt hour (kWh) and electricity at 24.67p per kWh. Ofgem regulates the energy market in England, Scotland and Wales. Northern Ireland has a separate system. The energy cap will change again on 27 May 2026.

Cornwall Insight presently anticipates the price cap will stay comparatively stable throughout 2026, with a modest decline projected for July. Nevertheless, it acknowledged these forecasts could alter as wholesale markets fluctuate and possible policy cost announcements emerge.