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British Gas warns millions of customers they have 'four weeks' to actThe typical household will still pay about £600 a year more on their annual energy bill than before Russia’s invasion of

Ukraine in 2022.NewsJames Rodger Content Editor11:05, 30 May 2025The typical household will still pay about £600 a year more on their annual energy bill than before Russia’s invasion of

Ukraine in 2022. British Gas has issued a warning for millions of customers - urging them to "lock in" as its fixed-rate tariffs offer savings on the July price cap. The typical household

will still pay about £600 a year more on their annual energy bill than before Russia’s invasion of Ukraine in 2022.

The price cap, introduced by the government in 2019, limits the rates for customers on standard variable energy tariffs. The energy price cap is set by Ofgem every January, April, July and

October.

‌ British Gas warned: “Ofgem has announced that the energy price cap will decrease on 1st July, meaning variable tariff rates will go down. Our fixed price tariffs are even cheaper than the

July price cap, allowing you to lock in a low rate now and avoid potential price rises if variable rates increase later.”

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Ofgem sets the price cap by working out how much it costs energy suppliers to supply you with gas and electricity.

Article continues below These costs cover things like buying wholesale energy, maintaining supply pipes as well as wiring and operating costs.

British Gas said: "On 23rd May, Ofgem announced that energy unit prices and standing charges will decrease from 1st July 2025. If you’re on a variable tariff, this means you’ll pay less for

your energy.

"The energy market has been more stable recently, but surprises can happen. Global politics play a big role in energy prices. For example, if conflicts in Ukraine, or the Middle East worsen,

wholesale gas prices could go up. This would eventually mean higher bills.

Article continues below "There’s ongoing talks about how the next price cap is calculated, and other energy rules which could affect prices in 2025, changing these predictions."

If you’re on a fixed tariff, the price cap won’t affect you as your prices are locked in for the length of your contract. British Gas promises: "We won’t increase the price you pay, unless

the government increases VAT.

"You can check what tariff you’re on in your online account."