New data from energy analysts Cornwall Insight suggests that gas and electricity bills could drop to just over £2,800 per year for the average household between July and September. The firm has been accurate with previous predictions since energy prices started to soar early last year following Russia’s invasion of Ukraine.
If the new forecast is accurate, the price drop would help drastically slash the amount that the UK Government has to spend to help households through the summer and autumn. However, while the drop would be welcome news for every household, money saving expert Martin Lewis warns that bills will still be higher than the current rate.
Responding to a question on Twitter after being asked when he thought energy prices would start to come down, the financial guru said that energy prices are likely to drop by around six per cent and stay that way until the end of the year, but that it’s “still a higher rate than the current one”.
