Households are set to see the cost of each unit of electricity and gas they use soar from the start of April, the final forecast from energy consultancy Cornwall Insight has said.
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, the analysts said. But, because of the way the government’s energy support works, households will be left paying an extra 20% for their energy and will also not get monthly payments of £66 or £67 towards their energy bills.
The amount that people pay for their energy is currently regulated by the government’s 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.
