Cornwall Insight’s latest forecast is lower than the UK Government’s Energy Price Guarantee
New analysis by experts at Cornwall Insight suggests that energy bills could be hundreds of pounds lower than previously thought in the latter half of this year - but only after a spike in the spring. The industry analysts said that the average household's energy bill might hit around £2,200 a year from July, some £300 less than previously forecast.
The new forecasts from Cornwall Insight suggest that Ofgem's price cap will be set at £3,209 from the start of April, around £300 less than its previous forecast just two weeks ago. Gas prices have plummeted in recent weeks, and have more than halved since early December, but while wholesale gas is cheaper than it has been for over a year at around 150p per therm, this is still around three times higher than at the beginning of 2021.
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