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Simon Meechan

UK energy bill cap rise forecasts for October and January rise by hundreds of pounds, again

Cornwall Insight United Kingdom Martin Lewis Craig Lowrey

Energy bills are set to rise to above £3,600 a year this winter, consultants warn in their latest forecast.

Cornwall Insight said a standard gas and electricity bill could hit £3,615 in the new year, a rise of hundreds of pounds on previous predictions. Just last month, the same company forecast a rise to £3,244 in October and £3,363 in January 2023, but ever-changing circumstances led to Cornwall Insight telling BBC Breakfast that bills will jump to £3,358 from October and £3,615 from January.

A surge in gas prices and concerns about supply due to the Russian invasion of Ukraine triggered the increase. Cornwall Insight warns bills will get even higher towards 2024.

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