As household energy bills are set to increase by 4% from today, Cornwall Insight have forecast that an even bigger rise is coming our way in January.
The price cap is expected to rise by 16% compared to October, reaching £1,999 per year for a typical duel-fuel household in the new year.
This is an increase of £276, the largest since the first month of 2023.
Cornwall Insight say the changes are driven by ongoing conflicts in the Middle East, which have disrupted gas supplies to the UK and the rest of the world.
Richard Neudegg, director of regulation at USwitch, said: “Switching energy tariff to a well-priced fixed deal is the biggest lever households on the price cap can pull to bring their costs down....
