Energy bills for UK households are expected to witness a 5% increase in the early months of the upcoming year, according to experts.
The projection coincides with Ofgem’s imminent announcement of the new price cap level scheduled for Thursday.
This potential rise is anticipated to bring the typical annual bill for dual fuel households from its current £1,834 to £1,931.
While a slight relief is projected in April, with the bill dropping to £1,853, the expenses are not expected to dip below today’s levels until July, as indicated by energy consultancy Cornwall Insight.
The persisting cost of living crisis has been a concern for households and this expected increase in energy bills adds to the financial burden many are already facing.
