Liz Truss was told of the Queen's condition before she delivered a speech on Thursday on freezing energy prices for two years.
23.08.2022 - 12:03 / dailyrecord.co.uk
Energy experts have said it is “difficult to see how many will cope" this winter as a final prediction suggests the price cap will increase by 80 per cent to an eye-watering £3,554 from October. It is the final forecast from the industry analysts before regulator Ofgem announces the new price cap on Friday, which will come into effect on October 1 and last until the end of the year.
But Cornwall Insight warned things will get worse for millions of people after that and said their analysis shows energy prices are set to rise to £4,650 from January. So between October and April - which includes the coldest months of the year - the average household will pay an equivalent £4,102 per year for their gas and electricity.
It would be a massive jump from today's £1,971 price cap, which is already a record high, and much steeper than the £1,138 seen last winter.
Cornwall Insight said: “While the energy price cap rise in April was already an unprecedented increase in domestic consumer energy bills, our final predictions for October are truly concerning.
"With the cost of living spiralling and households looking at an energy bill rise of over £1,500 equivalent per year, it is difficult to see how many will cope with the coming winter."
From April the price cap is expected to rise even further to £5,341. This will be for the spring and summer, so the impact on customers will be less severe.
However, the forecast still signals misery for households until the end of next year - bills will drop slightly to a still high level of £4,768 from July 2023, before hitting £4,807 three months later.
The energy price cap will now be updated every three months as opposed to the previous six monthly reviews.
Nicola Sturgeon is to chair a special
Liz Truss was told of the Queen's condition before she delivered a speech on Thursday on freezing energy prices for two years.
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This Morning has been criticised as “dystopian” for offering to pay viewers’ energy bills in a segment. The show, with Phillip Schofield and Holly Willoughby, offers viewers the chance to win cash prizes such as £1,000 or £3,000 with the presenters spinning a wheel of prizes in the show’s popular ‘Spin to Win’ segment.
The cost of living has been at the forefront of many people's minds across the country, with yet another energy price cap rise in October set to rock households ahead of winter.
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A 23-year-old disabled woman may have to move in with OAPs at a nursing home as she can’t afford to pay for electricity to power her life-saving equipment.
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Martin Lewis issued a warning to households who are planning on cancelling their direct debit amid soaring energy bill prices. On Friday (August 26), Ofgem announced that energy bills for 24 million households on a standard tariff will increase by 80 per cent from October.
The energy price cap will increase by around 80 per cent from the start of October, meaning the average household will pay £3,549 per year for gas and electricity. Gloomy forecasts predict that the cost of energy will continue to soar in the coming months leaving Brits in a bleak position.
With Ofgem's announcement that the energy price cap will soar to £3,549 in October, many may be concerned about how their annual energy bills will develop in the coming months.
Household face paying an estimated £3,549 per year from October for average use of gas and electricity - equating to a devastating 80 per cent rise in energy bills in a move that will deepen the soaring cost of living crisis even further for millions of people.
Ofgem announced on Friday (August 26) that the energy price cap will rise to £3,539, resulting in an 80 per cent rise in bill costs.
The UK’s cost of living crisis is getting worse with many expert warnings about rising bills leaving many worrying about how they will survive the next few months. With autumn and winter approaching many are fearful of a hike in bills and in particular energy bills as they look at how they will keep their homes warm in the colder months.There have been warnings of energy bills surpassing £5,000 next April, according to a recent shock forecast.
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Earlier this year, the Department for Work and Pensions (DWP) introduced a temporary change to the Fuel Direct scheme in order to protect people claiming benefits from soaring energy bills.