According to OFGEM, Britain's independent energy regulator, the Energy Price Cap will be reduced starting in July 2023. This will result in a £430 reduction in the typical energy bill, undoubtedly bringing a much-needed sense of relief to households and businesses nationwide. Starting from July 1st, based on typical consumption, the energy price cap will be set at a level of £2,074 per year for a dual fuel household paying by direct debit. This marks a substantial decrease from April's price cap which stood at £3,280.