It said the annual household bill when using a typical amount of gas and electricity was expected to drop from £1,928 to £1,620.
Households have endured two years of high prices, but analysts suggest there could be a further fall in the summer.
The prediction is not guaranteed, as it will be another month before the regulator, Ofgem, sets its price cap for the second quarter of the year.
“Healthy energy stocks and a good positive supply outlook are keeping the wholesale market stable. If this continues, we could see energy costs hitting their lowest since the Russian invasion of Ukraine,” said Craig Lowrey, principal consultant at Cornwall Insight.
Every three months the energy regulator for Great Britain, Ofgem, sets a maximum price that suppliers can charge customers on standard variable tariffs for each unit of energy used.
If you’re already with the cheapest energy supplier in your area, you’ll find out immediately and there will be no need to switch. The only thing that you will have to do is make sure you are on there cheapest tariff.
As soon as you’ve filled your postcode in and answered a few questions, which literally takes a few minutes, you’ll see a list of all the cheap energy suppliers in your area. This will also include how much you can save with each energy supplier when you make the switch online. You can then go ahead and choose the best energy supplier that offers you the most savings and we will send you an email to confirm the switch. The details are processed and forwarded to the supplier. The supplier will contact you to confirm the date on which your new service will commence. You will have to take a meter reading on this date, to ensure you’re not billed twice for the same energy.
Don’t delay! Find out today if you can get cheaper gas and electricity, by comparing prices of all the energy suppliers.