£3616 energy bills to be faced

British homes have been advised to prepare for annual energy bills of £3,616.

Consultancy Cornwall Insight told BBC Breakfast that domestic customers could pay £3,359 per year in October and £3,616 in January.

Although this prediction is lower than the grim estimation last week for monthly energy bills of £500, it is still significantly greater than the current £1,971 set in April.

“While the rise in forecasts for October and January is a pressing concern, it is not only the level but the duration of the rises that makes these new forecasts so devastating.” Dr Craig Lowrey, a Principal Consultant at Cornwall Insight, stated.

A couple of days ago, in an interview with BBC, a Cornwall Insight consultant stated that the UK might be in a critical state of running into voluntary gas reductions like those observed in Germany to limit its liability to volatility & safeguard its energy supplies.

Dr Lowrey commented: “Given the current level of the wholesale price, this level of household energy bills currently shows little sign of abating into 2024.”

Ofgem is set to disclose the new price cap at the end of August.

£3616 energy bills to be faced

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