Households are facing a further round of energy price rises despite the introduction of the government’s price cap, industry experts have warned. Ministers have promised to protect 11 million households on default tariffs with a cap by the end of 2018. Ofgem, the regulator, is due to publish further details of the ceiling early in September. However, new analysis by the energy consultancy Cornwall Insight expects cost pressures to drive up bills by 5%, about £60 a year, by next April. That would take a dual fuel bill based on typical consumption to £1,268 at a time when consumers are already under pressure from slowing wage growth and rising interest rates. While the calculations rest on expectations for the level of a price cap for 5 million vulnerable households, the increases are expected to emerge across the wider market.
Guardian 20th Aug 2018 read more »