- As natural gas prices continue to surge, the average energy bill in the UK is set to soar to nearly £4,000 a year ($4800 USD) in January.
- Energy bills are currently capped at £1,971 but the price cap is set to climb to £3,488 in October and then could rise again in January.
- Roughly half of the inflation being experienced in the UK at the moment is due to high energy prices.
” … You clothe yourselves, but no one is warm; And he who earns wages,
Earns wages to put into a bag with holes.” Haggai 1:6
The average energy bill is set to climb to nearly £4,000 a year from January as gas prices continue to push upwards, new analysis has shown.
Energy consultancy Auxilione warned that the Government’s price cap, which sets bills for more than 20 million households in Great Britain, could be increased further than previously expected.
It said that between October and December the price cap is likely to be £3,488 per year for the average household. Energy bills are currently capped at £1,971 – already a record high.
But from January the price will soar by another £500, hitting £3,994, research from the company showed.
Predictions for January are still uncertain as there are more than three months left until the price is decided. October’s prediction is likely to be more accurate.
Auxilione’s forecast comes less than a day after analysts at Investec forecast that October’s price cap will be £3,523, with bills rising to an eye-watering £4,210 in January.
Gas prices rose after Russian state producer Gazprom claimed it was unable to take delivery of a turbine which is vital to running one of its main pipelines to Europe.