Households are set to find out how much their energy bills will rise again from the start of the new year as hopes for relief from the cost of living crisis are put on hold.
Households are set to find out how much their energy bills will rise again from the start of the new year as hopes for relief from the cost of living crisis are put on hold. Ofgem will announce its latest price cap on Thursday, November 23, with energy consultancy Cornwall Insight predicting it will increase from the current £1,834 for a typical dual fuel household to £1,931(5% increase) from January to March.
The forecasts suggest the typical bill will then fall to £1,853 from the start of April, but will not drop below today's level until July next year. Cornwall Insight said recent milder weather was helping to bring down gas prices, and this could help reduce bills next year if it continued, but warned "sharp price falls are not expected". Dr Craig Lowrey, principal consultant at Cornwall Insight, said: "An unstable wholesale energy market, coupled with the UK's reliance on energy imports, makes it inevitable that energy bills will rise from current levels
Energy Bills Price Cap Cost Of Living Crisis Ofgem Cornwall Insight
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