Energy bills will fall in April by nearly £300 a year for a household using a typical amount of gas and electricity, a leading forecaster says.
Consultancy Cornwall Insight has predicted a 15% drop, taking the typical annual bill to £1,635 – the lowest in more than two years.
The energy price cap for the three months from April will be announced by regulator Ofgem in one week’s time.
The energy price cap for the three months from April will be announced by regulator Ofgem in one week’s time.
If the prediction proves to be correct, the annual bill for a household, paying by direct debit, would fall by £293 a year compared with the current level of £1,928.
Ofgem’s price cap, which will be announced next Friday, affects 29 million households in England, Wales and Scotland. Rules are different in Northern Ireland.
The regulator sets the maximum amount that suppliers can charge for each unit of gas and electricity but not the total bill, so if you use more, you will pay more.
Cornwall Insight’s prediction is slightly more positive for billpayers than previous forecasts.
It said a relatively warm winter and less disruption than feared from disruption in the Red Sea had kept wholesale prices, paid by suppliers, at a lower level.
Energy bills will fall in April by nearly £300 a year for a household using a typical amount of gas and electricity, a leading forecaster says.
The energy price cap for the three months from April will be announced by regulator Ofgem in one week’s time.
Consultancy Cornwall Insight has predicted a 15% drop, taking the typical annual bill to £1,635 – the lowest in more than two years.
If the prediction proves to be correct, the annual bill for a household, paying by direct debit, would fall by £293 a year compared with the current level of £1,928.
The energy price cap for the three months from April will be announced by regulator Ofgem in one week’s time.
The energy price cap for the three months from April will be announced by regulator Ofgem in one week’s time.
If the prediction proves to be correct, the annual bill for a household, paying by direct debit, would fall by £293 a year compared with the current level of £1,928.
Ofgem’s price cap, which will be announced next Friday, affects 29 million households in England, Wales and Scotland. Rules are different in Northern Ireland.
The regulator sets the maximum amount that suppliers can charge for each unit of gas and electricity but not the total bill, so if you use more, you will pay more.
Cornwall Insight’s prediction is slightly more positive for billpayers than previous forecasts.
It said a relatively warm winter and less disruption than feared from disruption in the Red Sea had kept wholesale prices, paid by suppliers, at a lower level.
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