UK energy regulator lowers price cap for the summer
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(Reuters) - UK's energy regulator said on Friday the price cap for bills will fall by 17 pounds to 1,162 pounds during the summer, as wholesale energy prices have declined in the last few months."A strong supply of gas, such as record amounts of liquefied natural gas and healthy gas stock inventories, has been the main factor pushing down wholesale prices," Ofgem said.Ofgem, citing a drop in wholesale prices, lowered the cap last August as well by 75 pounds.The regulator, which reviews the price..