Warning energy bill price cap could now reach £5,300 next year
manchestereveningnews.co.ukConsumers have been warned that an average family's annual energy bill could reach nearly as high as £5,300 from April. In a new forecast, energy consultancy Auxilone predicted that the price cap on energy bills could reach £3,628 in October compared to £1,971 today.
It adds that if the current wholesale price for gas and electricity doesn't fall soon, the price cap could rise again to £4,538 in January and peak at £5,277 in April.
It is the worst prediction yet facing millions of households who will struggle to pay for the sky-high bills this winter. The prediction comes after the wholesale market price of gas and electricity has been steadily increasing. Read more: The cheapest petrol prices in Greater Manchester, borough by borough The April forecast, which was made on Friday (August 12) morning is £240 higher than previous predictions made just 24 hours earlier.
The figure provided for the price cap is based on what an average household uses. Therefore, those who use more than average will have to pay more while those who use less will pay less on their bills.
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