The average energy bill is set to climb to nearly £4,000 a year from January as gas prices continue to push upwards, new analysis has shown. Energy consultancy Auxilione warned that the Government’s price cap, which sets bills for more than 20 million households in Great Britain, could be increased further than previously expected.
It said that between October and December the price cap is likely to be £3,488 per year for the average household. Energy bills are currently capped at £1,971 – already a record high. But from January the price will soar by another £500, hitting £3,994, research from the company showed.
Predictions for January are still uncertain as there are more than three months left until the price is decided. October’s prediction is likely to be more accurate. Auxilione’s forecast comes less than a day after analysts at Investec forecast that October’s price cap will be £3,523, with bills rising to an eye-watering £4,210 in January.
