Analysis by Investec has forecast that the cap on annual energy bills will fall to £2,478 for an average bill in the summer, down from its previous estimate of £2,640 earlier this month, and average £2,500 a year in the second half of 2023.
The prediction is significantly lower than the consultancy Cornwall Insight’s forecast last week of bills settling at about £2,800 from July.
Wholesale gas prices have fallen in recent weeks as mild weather and high levels of gas storage in winter has allayed some concerns over future shortages of Russian gas. However, bills remain far higher than before the start of the energy crisis in 2021, when households were paying about £1,200.
Investec analyst Martin Young said the tariff cap estimates had fallen again after wholesale prices dropped, and now stand at about £2,500 for the second half of 2023.
Read more at The Guardian
