Energy bills could be set to fall lower than previously expected this summer, according to predictions. Energy bills for a typical household are predicted to fall to around £2,400 a year from July this year, analysts at Investec say.
The firm says the price cap is forecast to fall to £2,478 in July - over £150 lower than its estimate made on January 4. It says this is due to a warmer than usual winter after prices soared due to the Ukraine war putting pressure on global gas supplies.
Investec had previously said it expected the price cap to be £3,458 in April, £2,640 in July and £2,704 in October. However, it now predicts these will be £3,317 in April, then £2,478 in July and £2,546 in October. The UK has faced rising costs in the past year which have seen inflation hit a 40-year high and the Bank of England to predict a two-year recession - the longest since official records began.
