Households could soon be paying £3,500 a year in energy bills, as these costs are due to rise from October.
On August 26 energy regulator Ofgem will announce what its price cap will be from October 1.
The latest predictions from consultancy Auxilione are for yearly energy bills to rise to £3,576 a year from this date for average energy use.
With bills set to soar, consumer champion Will Hodson from How to Save It will be joined by Mirror Money reporter Sam Barker on this afternoon at 1pm to answer your questions.
Join us today at 1pm live on the Daily Mirror Facebook page
They will explain exactly what is going on and all the actions you can take to help take some of the sting out of rising energy bills.
This includes the right time to take and submit meter readings, how to save money on energy and the future for the cost of gas and electricity.
We’ll be taking your questions live - you can do this by dropping us a comment during the Facebook Live - or you can email us beforehand at mirror.money.saving@mirror.co.uk.
More than 80% of British homes are now on energy deals limited by the Ofgem price cap.
Ofgem first introduced the price cap in 2019 and it is based on a number of factors including the wholesale cost of power.
This price cap sets a limit on the rates a supplier can charge for each unit of gas and electricity you use, for homes on variable-rate energy deals paying by direct debit.
The price cap also sets a maximum for the daily standing charge, which is what you pay to have your home connected to the grid.
It is currently £1,971 for average use.
The price cap is altered every three months, in January, April, July and October.
Consultants at Cornwall Insight, who correctly predicted the last big energy bill rise, expects the price cap to rise to £4,266 in January.
Citi has forecast that a surge in wholesale energy prices will lead to inflation “entering the stratosphere” in the new year.
Citi chief UK economist Benjamin Nabarro said: "We now expect CPI inflation to peak at over 18% in January."
Other financial experts at investment firm Goldman Sachs and accountants EY said inflation would be at least 15% in the new year.
What energy bill help is available?
Talk to your energy bill provider as soon as possible if you can't pay your bill - they might be able to put you on a payment plan or offer some sort of tailored support.
It's also worth asking them if you're definitely on their cheapest deal.
Many big energy firms have charitable hardship funds and grants that you may be eligible for if you’re struggling.
For example, the British Gas Energy Trust can be accessed by anyone - not just its customers - providing you meet the eligibility criteria.
If you’re over the state pension age, you may be eligible for the Winter Fuel Payment scheme, worth between £100 and £300 during the winter months.
