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.

Electricity, water and sewage prices on the Isle of Man are set to rise from April. There will be a 2.9% rise for water and sewage - which sits at the September inflation rate, and a 1.5% increase for electricity.

Natural gas prices have soared again this week as the Middle East conflict disrupts supplies - and British households are set to be particularly badly affected.

Why natural gas prices has spiked by 93 per cent and what the impact might be for UK - A Qatari gas plant shutting has stoked fears of an energy crisis as attacks across the Gulf continue

The Ofgem price cap does not put a limit on how much you can pay for energy - instead, it sets the maximum unit rate and standing charges

The average UK energy bill is set to drop by 7% from April to a nearly two-year low, primarily due to the government moving clean energy support costs from household bills to general taxation.

Price cap: Energy bills set to plummet from April – what it means for you - Rachel Reeves said last November that £150 would be cut from the average household bill from April

We now expect the next Bank of England cut in April, though March is still a distinct possibility if Middle Eastern tensions rapidly de-escalate. Read more here.

One provider is introducing a £75 exit fee for new fixed tariff agreements amid growing tensions in the Middle East

Oil prices latest: Energy boss fears ‘white knuckle ride’ ahead as Trump’s Iran strikes send fuel costs soaring - Price of oil has surged since the US and Israel launched airstrikes towards Iran 10 da