Millions of households across the country are being warned that the price cap on energy bills could rise even higher than previously forecast next year. Gas prices spiked again on Monday and unless they drop in the coming months, average households could be facing an annual energy bill of £4,722 from January and £5,601 from April.
Energy consultancy, Auxilione, said the price of buying gas for the fourth quarter of this year is now around 100p higher per therm than it was just two weeks ago, while electricity prices have risen by around £100 per megawatt hour. One therm cost 563p as markets wrapped up on Monday and a megawatt hour of electricity cost £606.
The new forecast predicts that bills will start falling from July, initially to £4,811 and then to £4,446. But this is still thousands of pounds more than families are paying at the moment.
