Thursday, February 29, 2024
Energy Transition Outlook Report 2023
HomeRenewableselectricity and gasEnergy price cap expected at £1,550 for April

Energy price cap expected at £1,550 for April

BFY Group predicts a drop in the energy price cap for April, estimating it to be around £1,550.

This figure represents a reduction compared to previous levels.

From 1st January the price for energy for a typical household using gas and electricity and paying by direct debit went up by £94 – this took the price cap from £1,834 to £1,928 per year.

The forecast by BFY Group suggests unit rates of 22.5p for electricity and 5.5p for gas.

Low consuming customers are projected to pay around £1,150 annually, while high consuming customers may face costs of about £2,200.

The calculation of the 12-month cost of the price cap involves estimating the cap level for each quarter and applying seasonal usage patterns.

Recent trends show a decline in energy prices, with both Summer-24 and Winter-24 prices falling by roughly 40% over the last 90 days.

However, Winter-24 prices stayed 30% higher than Summer-24.

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
- Advertisment -
Energy Jobline LinkedIn

Most Popular

Recent Comments