The energy price cap will rise from £1,641 to £1,862 per year for the average household tomorrow, equating to an extra £18.40 a month for those that haven’t fixed their tariff.
However, the latest prediction from the independent energy analyst Cornwall Insight puts the price cap at a slightly lower £1,849 from October.
This forecasted drop is down to easing tensions in the Middle East, which are helping to stabilise wholesale energy markets.
However, Cornwall Insight says that prices will remain high as questions remain around peace talks, the reopening of the Strait of Hormuz and repair timelines to infrastructure.
The good news is that if you're on a variable tariff and don’t want to pay elevated bills under the energy price cap, you can avoid them by fixing.
