Energy consultancy Cornwall Insight said it expects the typical household’s energy bill to rise 9 per cent from October, up to £1,714 a year, from £1,568 currently.
The news won’t be welcomed by bill payers, who may have been hoping to see costs go down after inflation reached the Bank of England’s target of 2 per cent in June, followed by the first cut to the interest rate in five years in August.
Experts from Cornwall Insight said there is also likely to be a further “modest” increase in January 2025, with more rises possible early in the new year due to “recent tensions in the Russia-Ukraine war”.
This story is from the August 21, 2024 edition of The Independent.
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This story is from the August 21, 2024 edition of The Independent.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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