Energy bills are rising and financial experts are warning that a reduction in costs is not going to happen anytime soon. Households could see their bills hit more than £3,600 a year this winter.
Gas and electricity bills could reach as high as £3,615 in the new year, hundreds more than previous predictions according to consultancy Cornwall Insight, but many consumers are struggling to pay their current bills amid the rising cost of living.
The energy price cap increase, enforced by energy regulator Ofgem, saw the average energy bill rise to £2,000 instead of £1,400 a year in October, 2021. The cap, which limits the rates a supplier can charge for each unit of gas and electricity you use, changes every six months, though the next review/change is due in October this year.
