Warning energy bills could hit an eye-watering £4,400 by January

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Warning energy bills could hit an eye-watering £4,400 by January
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Cap on energy bills might soar by several hundred pounds more than nightmare forecasts predicted earlier this week

A new analysis has shown that the cap on energy bills might soar by several hundred pounds higher than originally predicted. A provisional forecast by experts at energy consultancy Auxilione has shown that the price cap on energy bills could reach £3,687 in October – close to double today’s already record levels.

The company said: “We release today’s view with a caveat that we are having to re-do our analysis this week to ‘double check’ that the outputs are correct. Be sure to be sitting down before reading on,”. The price could balloon further to £4,700 in April, the experts said, although they warned that forecasts so far ahead are more likely to be unreliable.

Auxilione said the changes – which added around £400 to the January price cap compared to Friday’s forecast – were largely due to new Ofgem rules that were announced earlier this week.

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