The price cap on energy bills is set to increase to almost £3,000 at the start of October, according to a new prediction. The cap is £1,971 at the moment, but later this year it is forecast to soar to around £2,980.
The higher sum would cover the next period, which runs between October and December. The price cap - a policy that came into force in 2019 - limits the rates a supplier can charge for their default tariffs, including the standing charge and price for each kWh of electricity and gas.
The latest prediction comes from Cornwall Insight. Analysts used the latest available data to estimate the future energy price.
