The cap on energy bills might soar by several hundred pounds more than nightmare forecasts predicted earlier this week, new analysis has shown. In a provisional forecast, experts at energy consultancy Auxilione predicted the price cap on energy bills could reach £3,687 in October – close to double today’s already record levels.
In what is thought to be the worst outlook yet for the 24 million households whose bills are governed by the price cap, the experts also saw further rises in 2023. The cap could hit around £4,400 in January, they warned, although the predictions came with caveats.
Auxilione said it was double-checking its figures, due to changes made by energy regulator Ofgem to the price cap rules.
