Energy crisis horror: Price cap now forecast to rise to eye-watering £3,244 in October

Energy bills: George Eustice grilled on 'off-peak discounts'

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New analysis from Cornwall Insight has revealed that British households could likely face even higher energy this winter than previously expected. Their forecasts predict that the Default Tariff Cap, also commonly known referred to as the energy price cap, for the fourth quarter of 2022 (October- December) will see a steep increase to £3,244 a year. This is significantly higher than the £2,800 figure that Ofgem predicted over a month ago.


They also predicted that the Default Tariff Cap for Q1 2023 (January-March) will rise to £3,363 a year for an average domestic consumer.

Together, these price cap increases threaten to cripple millions of families in the UK, as many may be forced to choose between heating and eating. 

When Ofgem announced that they will raise the price cap in October to somewhere around £2,800, their CEO Jonathan Brearley told: “The best number we have (…) is around 12 million households,” when asked about how many families will fuel poverty. 

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