Jeremy Hunt doesn’t rule out further energy bill support, after Ofgem lowers price cap; UK borrowing costs climb – as it happened

The average household energy bill will fall by 426 a year from July after Ofgem dropped its price cap following tumbling wholesale prices.

• Full story: Britain's energy price cap falls to 2,074 but households will see little relief

• Explainer: Britain's energy price cap cut: how the changes affect you

Q: Wholesale gas prices have been falling for months - why is that benefit only being implemented from July?

Brearley explains that energy companies are buying energy forward in the market'..

So right now they're not buying our power and energy for July. They're buying it for later on in the year. That means this does take time to feed through.