Millions of households ‘to see energy bills soar by almost £400 next year’ in latest price surge
MILLIONS of households will see their energy bills soar by almost £400 next year after the wholesale cost of gas shot up by 40% in a single day.A global energy crunch as demand ramps up ahead of the winter has seen wholesale gas prices repeatedly smash records in recent days
The cap — which limits what suppliers can charge for their standard or default tariffs — has just beenHowever, a global energy crunch as demand ramps up ahead of the winter has seen wholesale gas prices repeatedly smash records in recent days.to reach an all-time high of more than £4 per therm — a unit of heat measurement.
Energy market consultants Cornwall Insight said last night “due to wholesale gas and electricity prices continuing to reach new records” its forecast for the 2022 price cap had risen to £1,660. being offered by energy suppliers are already higher than that, with the cheapest at £1,700 a year. Financial expert Martin Lewis recommends not switching to these yet.
Industries that consume a lot of energy have warned they may struggle without government intervention.
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