Supply concerns have kept the energy market volatile, experts warn, which could lead to higher prices in the new year
Experts Cornwall Insight warned that higher energy bills are set to be “the new normal” and it was important Ministers look at ways to protect the most vulnerableEnergy regulator Ofgem will set the price cap for January to March 2025 later this week limiting what energy providers can charge in England, Scotland and Wales.
“While we may have seen this coming, the news that prices will not drop from the rises in the autumn will still be disappointing to many as we move into the colder months.”“Options like social tariffs, adjustments to price caps, benefit restructuring or other targeted support for vulnerable households must be seriously considered.”
It said that it currently forecasts the cap will drop slightly in April 2025 and again in October 2025.
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