Fears Energy Bills Will Hit Shocking £3,850 A Year

‘Horrendous’ winter ahead for millions as Putin pushes gas price to record high

- Giles Sheldrick and Emily Braeger

EVER-soaring energy bills will hit almost £4,000 a year after vengeful Vladimir Putin cut gas supplies – devastating millions this winter.

In January alone electricity and gas will cost £500 on average.

Consumer rights champion Martin Lewis said: “This is going to be a horrendous autumn and winter.”

The shocking forecast by consultants BFY means tens of millions will be forced to choose between heating or eating, with older and vulnerable users disproportionately affected.

The cap on most tariffs is forecast to hit £3,420 in October then £3,850 in January, so households will be further stung in the coldest months with demand at its peak.

Estimates shot up due to a surge in wholesale gas prices that struck a record 530p per therm for next winter only yesterday, in an instant reaction to Moscow reducing exports via pipeline to Germany.

The hammer blow for squeezed households follows energy bills rising to a record £1,971 a year in April. Caroline Abrahams, charity director of Age UK, said: “Even higher energy bills will be very frightening for many older people.

“We’re urging anyone who is struggling, to get in touch for a benefits check in case they’re entitled to some extra financial support.”

Russia’s invasion of Ukraine in February sparked global tensions and market volatility led to an unprecedented European energy crisis as the Kremlin limited gas supplies. This has sparked fears of winter rationing.