Household energy bills forecast to see biggest rise in four years
UK household energy bills are forecast to rise by 16% in January, potentially reaching an annual average of £1,999. Experts cite Middle East conflict and gas supply disruptions as primary drivers for the increase.
Why it matters
Rising energy costs significantly impact the cost of living and place pressure on government policy regarding subsidies and VAT cuts.
Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 11 minutes ago Household energy prices are set to soar in January, with a typical annual bill forecast to jump by £276, figures shared with the BBC reveal.
The 16% predicted increase would hit millions of households at the coldest time of year, and would mark the biggest rise in bills for four years.
The forecast from consultancy Cornwall Insight comes a day before prices go up under regulator Ofgem's October price cap and puts increased pressure on the government to support those who will struggle to pay.
Meanwhile, the boss of supplier EDF Simone Rossi has warned the UK is "walking into a second energy crisis" and called for an extension to the VAT cut on electricity which kicks in on Thursday.
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