Daily Mail | Energy bills predicted to surge later in the year with price cap likely to rise by at least £100 thanks to higher wholesale costs

Our latest price cap prediction was highlighted in the Daily Mail today. The energy price cap is likely to increase by more than £100 with the new level being around £1,250 per year for the winter 2021 cap.

Explaining why we are likely to see such a large rise Craig Lowrey said it is thanks to a considerable rise in wholesale costs which is at the highest levels since the Beast from the East in 2018. Wholesale prices have been hit by a combination of factors. 

With a substantial increase in the wholesale price, it is extremely likely to expect this to be passed through fairly quickly in terms of prices to new customers.

Craig Lowrey

Daily Mail