Families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October. They also expect it to rise again next year.
It is a forecast that will pile pressure on the Government to take rapid action, and spells out pain for more than 20 million households. The observation window – when regulator Ofgem tracks the market to decide what the cap will be – slammed shut on Thursday, so the prediction is more certain than ever.
The regulator is set to announce the new price cap, which will come into effect from October, next Friday. Auxilione, an energy consultancy, said its final prediction is that officials will set the cap at £3,576 per year for the average household. The cap is currently £1,971.
