There have been many energy industry experts analysing the current price of wholesale gas to forecast how much the Ofgem price cap will rise from October 1, and worryingly, each new prediction is higher than the last. Millions of households across the country are facing a bleak winter as the final forecast from Auxilione, pitches the price cap at nearly £3,600.
It is a forecast that will pile pressure on the UK Government to take faster action, but unless Parliament is recalled early from summer recess, nothing will be put in place until September 5 when the country will have a new prime minister. The observation window - when regulator Ofgem tracks the market to decide what the cap will be - closed on Thursday, so the prediction is more certain than ever.
The energy regulator is set to announce the new price cap, which will come into effect from October 1, on Friday, August 26.
