Household energy bills could surpass £4,200 next year, says energy analyst.
New dramatic forecasts from Cornwall Insights predict bills will rise to £4,266 in January, before rising again in April to £4,427 - the previous forecast was for £3,729 in April. This means the average household spend will increase to around £355 per month.
Cornwall Insight said these revisions were due to energy regulator Ofgem's "change in calculation methodology." This change in methodology refers to Ofgem's decision to change the price cap every three months, instead of six, and increased wholesale prices for its high forecast. Ofgem said the more frequent reviews allow energy companies to provide more accurate pricing for customers
