Energy bills for the typical British household are set to rise by an average of £47 from April, putting renewed pressure on millions of families, according to latest projections.
A rise in wholesale gas prices will prompt Ofgem, the energy regulator, to lift the price cap by 3 per cent to £1,785, from £1,738 in January, according to forecasts by Cornwall Insight.
It is the second time the energy consultancy has increased its forecast for April; previously it predicted a £24 increase to £1,762. Initially it had expected the typical dual-fuel bill to fall to £1,713.
European gas prices have risen by 49 per cent since January 2024 to €47.6 per megawatt hour, pushed higher partly by the end of the Russia-Ukraine gas transit contract