Energy bills could hit £4,200 a year from January in what is set to be another blow for households across the country, experts have warned. The Cornwall Insight says the average home will pay £3,582 a year from October 2022 and £4,266 a year from January 2023.
The firm's predictions got worse from last week, when it said gas and electricity bills would be £3,359 a year in October and £3,616 in January. A Cornwall Insight statement said this was due to "a change in calculation methodology" by the energy regulator, Ofgem.
This troubling news comes after reports that bills could rise by around £6,000 by the end of the year. The average household is expected to pay £6,219 more this December compared to the same month of 2021 as the cost of living crisis continues to grip families, according to the Centre for Economic and Business Research (CEBR).
