Domestic energy prices will fall by 16% in April, according to a prediction by consultancy Cornwall Insight, bringing some relief to billpayers.
If this continues, we could see energy costs hitting their lowest since the Russian invasion of Ukraine," said Craig Lowrey, principal consultant at Cornwall Insight.
Under Ofgem’s price cap, the annual bill for a household in England, Wales and Scotland using a typical amount of gas and electricity, paying by direct debit, stands at £1,928.
“Concerns that events in the Red Sea would lead to a spike in energy bills have so far proved premature, and households can breathe a sigh of relief that prices are still forecast to fall,” Mr Lowrey said.
The regulator is proposing adding £16 to a typical household bill between April and March 2025 to give suppliers the funds to offer prepayment plans and write off debts.
Last week, Chris O’Shea, the boss of British Gas owner Centrica told the BBC his pay last year of £4.5m was “impossible to justify” when others were struggling.
The original article contains 499 words, the summary contains 172 words. Saved 66%. I’m a bot and I’m open source!
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Domestic energy prices will fall by 16% in April, according to a prediction by consultancy Cornwall Insight, bringing some relief to billpayers.
If this continues, we could see energy costs hitting their lowest since the Russian invasion of Ukraine," said Craig Lowrey, principal consultant at Cornwall Insight.
Under Ofgem’s price cap, the annual bill for a household in England, Wales and Scotland using a typical amount of gas and electricity, paying by direct debit, stands at £1,928.
“Concerns that events in the Red Sea would lead to a spike in energy bills have so far proved premature, and households can breathe a sigh of relief that prices are still forecast to fall,” Mr Lowrey said.
The regulator is proposing adding £16 to a typical household bill between April and March 2025 to give suppliers the funds to offer prepayment plans and write off debts.
Last week, Chris O’Shea, the boss of British Gas owner Centrica told the BBC his pay last year of £4.5m was “impossible to justify” when others were struggling.
The original article contains 499 words, the summary contains 172 words. Saved 66%. I’m a bot and I’m open source!