A new forecast from consultancy firm Cornwall Insight suggests that annual energy bills for a typical household in the UK could rise by £73 in January. According to the prediction, bills might increase to £1,996 under the official price cap set by the UK’s energy regulator Ofgem. The energy price cap limits how much suppliers can charge households for each unit of energy they use. Cornwall analysts attribute the anticipated rise in January to increases in wholesale energy prices.
This projected increase follows a period where millions are expected to see energy bills fall from October 1, as the next price cap comes into effect. From October to December, a typical dual-fuel household will pay £1,923 a year, down from £2,074 in the previous three-month period. However, despite this decrease, some government support that aided bills last winter has been withdrawn, and bills remain notably higher than in 2021.
