Energy research firm Cornwall Insight has made its final prediction for energy costs this autumn, with it forecasting that they will rise by 9% in October for those on default tariffs.
It now expects that the average UK dual-fuel household will be paying £1,714 a year for its energy, which is down slightly from its previous June estimate of £1,723. Nevertheless, it also expects that the resurgence of activity in the Russia–Ukraine war will likely cause a further modest increase in the New Year. Those who have chosen to fix their energy prices will be unaffected until their deals come to an end, however.
Cornwall Insight’s principal consultant, Craig Lowrey, pointed out that as the colder autumn and winter weather approached, this was clearly not good news. He added that the recent falls in energy prices may have given some hope of a return to pre-crisis levels, but the energy crisis’s persistent effect:
“…has left us with a market that’s still highly volatile and quick to react to any bad news on the supply front. Despite this, while we don’t expect a return to the extreme prices of recent years, it’s unlikely that bills will return to what was once considered normal.”
With energy bills set to remain relatively high, it may be worth replacing an old inefficient boiler with a modern condensing boiler. Xgas can provide a boiler Installation in Wrexham and other nearby places, such as Chester, Oswestry and Ellesmere Port, so get in touch for a quote.
