October’s price cap forecast may be a large under-estimate Jul 14, 2022

Energy price cap is higher than predicted

Chief executive of Ofgem says that the market price of energy is higher than it was at the point of the last price cap estimate.

The original estimate was predicted to rise to £2,800 but due to the ongoing impacts of the Russian invasion of Ukraine prices are likely to continue to rise.

The price cap is re-calculated twice a year, although this could change to every three months.

The new forecast according to Cornwall Insight is £3,244 per year from October.

If you are worried about your energy bills we have plenty of advice and funding options available to you, usually at no cost.

For more on the energy price cap visit our news site.

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