Energy bills are expected to rise over £5,300 in April next year according to the most recent predictions. The dire news reported from energy consultancy Cornwall Insight comes before Ofgem confirms its October energy price cap.
Millions will receive new energy bills in the coming weeks when Ofgem announces the October price cap this Friday (August 26), which is forecast to be £3,553 for the average household. The consultancy energy firm has said the forecasts for this period have fallen slightly but gas and electricity bills are expected to increase further for January and April next year.
Household energy bills are now forecast to top £5,300 a year in April, which would mean an annual increase of £4,000 in 12 months. But what is the likely figure many consumers will face and what does the increase in energy price cap mean for gas and electricity bill payers in the long-term?
