British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise.
Wholesale prices have fallen by about 50% since December but are still significantly higher than in previous years.
European energy prices started to rise at the end of 2021 as the world emerged from COVID-19 lockdowns and then surged last year after Russia's invasion of Ukraine. British opposition parties and campaigners have called on UK finance minister Jeremy Hunt to protect consumers against the rise in their bills in April as the cost of living crisis continues to take its toll.
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