The final forecast from energy consultancy Cornwall Insight suggests that people across Britain are set to see the cost of each unit of electricity and gas they use soar from the beginning of April.
The Ofgem price cap on energy bills, which regulates what energy suppliers are able to charge, but not necessarily what households pay, will fall by around £1,000 to £3,295. However, due to the way the UK Government’s energy support works, households will be left paying an extra 20 per cent and will also not get monthly payments of £66 or £67 towards their bills as the £400 Energy Bills Support Scheme ends in March.
The amount that people pay for their energy is currently regulated by the UK Government’s £2,500 energy price guarantee. This limits the amount that domestic customers pay to 34p per kilowatt hour (kWh) for electricity and 10.3p per kWh for gas.
