Cornwall Insight says 26 million homes could be governed by Ofgem and not the Government guarantee this year, if their prediction is correct
NEW YEAR PREDICTION: High bills could continue for the foreesable future but they might not be as big as we fear if Cornwall's precition is right Brits worrying over spiralling energy costs might be in for a slight reprieve if the current prediction from an energy consultancy firm turns out to be right.
This is because the Price Guarantee capped consumer energy bills and compensated energy suppliers the difference between the Price Guarantee and the price cap. However, the overall cost to the Government of the Price Guarantee for the period to April 2024 is still a predicted £37billion - money which will need to be recovered through the taxpayer.
Principal consultant at Cornwall Insight, Craig Lowrey, said:"We must remain cautious as the government has essentially been underwriting a volatile wholesale energy market - one which is likely to remain unstable throughout the year.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Bubbling of excitement' as Cornwall prepares for UK's first orbital rocket launchA modified Virgin Boeing 747 with a 21-metre rocket attached to its wing will take off from Newquay on Monday night in a historic moment for the country's first spaceport.
Read more »
Cornwall ready for lift-off as Europe’s first satellite launch set to make space historyCornwall ready for lift-off as Europe’s first satellite launch set to make space history ➡️ The Spaceport at Newquay’s airport is preparing for the launch of its first satellites into space tonight
Read more »
UK space launch: Historic Cornwall rocket mission set to blast offA modified jumbo jet will fly out of Cornwall on a mission to send nine satellites to orbit.
Read more »
Spaceport Cornwall: From pasty memes to rocket launchThe first orbital space launch from the UK is set to take off from Cornwall.
Read more »
UK space launch: Historic Cornwall rocket mission set to blast offA modified jumbo jet will fly out of Cornwall on a mission to send nine satellites to orbit.
Read more »
UK space launch - live updates: Virgin Orbit rocket blasting off from Spaceport Cornwall for first timeCosmic Girl, a former Virgin Atlantic Boeing 747, takes off from Spaceport Cornwall with the LauncherOne rocket under its wing. It is carrying a number of satellites, including ones made in Britain, into space. The launch window opens at 10.16pm, watch live in the stream here from 9pm.
Read more »