Price cap analysis from Cornwall Insight was showcased in The Guardian. The analysis shows that for the coming winter, the regulator is expected to lift its cap for the average dual-fuel energy bill from £1,138 a year to £1,250 a year.
Discussing the reason behind the rise, Craig Lowrey said the looming winter energy price shock had been primarily driven by rising prices on the global energy markets. The rising global price of gas shipped on liquified natural gas tankers and the higher cost of European carbon prices would keep the UK’s energy prices high.
It looks likely that we will see a substantial rise in the winter price cap.Craig Lowrey