Annual energy bills in UK likely to exceed £4,200 from January
The energy bill for an average household in the United Kingdom can rise to £4,266 from next year. Rising electricity and gas prices are cited as the reasons behind this jump in the energy bill. The analytical predictions were made by a consultancy named Cornwall Insight.
The consultancy made its predictions public today. It expected that regulator Ofgem would lift its price cap higher than anticipated. It stated that the annual energy price cap could jump to £4,266 for the first three months of 2023. Besides, the consultancy forecasted that energy bills might remain at £4,266 in the quarter starting from April 2023 before easing in the next quarter.
