Energy Bills Could Rise to £5,500 Next April, Says Latest Dire Prediction

International

17-08-2022, 20:00

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INA - SOURCES

The price cap on energy bills might rise even more than previously thought, experts have said in the latest of a series of worsening warnings.

Gas prices spiked again and unless they drop in the coming months, average households could be facing an annual energy bill of £4,650 from January and £5,456 from April.

Once again it is the worst warning yet from Auxilione, an energy consultancy. It adds nearly £200 to the consultancy's previous forecast for April.

The price of buying gas for the fourth quarter of this year is now around 100p higher per therm than it was just two week ago, while electricity prices have risen by around £100 per megawatt hour.

One therm cost 563p as markets wrapped up on Monday and a megawatt hour of electricity cost £606.