Energy bills are forecast to fall by 15% in April thanks to mild winter weather, to an average of £1,635 per household, per year.
The analysis by Cornwall Insight ahead of OFGEM’s announcement next week forecasts the cap will continue to decline in July, with a small rise in October.
However, the latest projections indicate that the cap will stay below the current level until the end of the year.
Lower overall price cap predictions suggest the UK has, for now, weathered the storm of Red Sea tensions, securing a steady supply of LNG through the Atlantic.
Good availability of cargoes in Europe and Asia, in part due to mild weather, has contributed to the drop in prices they say
