Energy market analysts say they don't expect costs to return to pre-crisis levels until the end of the decade. Cornwall Insight has announced its final forecast for the next quarter's price cap, which is due to be announced by regulator Ofgem on May 25.
It predicts that the cap for the July to September period will be set at £2,053 for a typical household. This is an average figure and does not mean households will pay no more than that per year, as the cap is per unit of energy used.
If it proves to be accurate, it will mark a significant fall from the current cap of £3,280 for April to June. However, average bills were capped at £2,500 by the Government's Energy Price Guarantee (EPG). The predicted fall to £2,053 from July will bring the cap under the EPG.
