Weekends are getting warmer, but your energy bill won’t
Energy consultants have a crisp forecast for the upcoming winter: an October spike that’s going to feel less like a butter knife and more like a scalpel on your household budget.
What’s in the numbers?
- On Friday Ofgem plans to roll out a new price cap—going from £1,568 to £1,714 a year.
- January sees a handful more bump, keeping the roller coaster running.
- Early 2025 might bring more twists, courtesy of the Ukraine war’s ongoing impact on supply.
Why the forecast matters
Craig Lowrey, Cornwall Insights’ top consultant, lets us in on the reality:
“After seeing two price drops, many of us were hoping the market was on a steady path back to pre‑crisis levels,” he says. “But the lingering effects of the energy crisis keep the market volatile and quick to react to any negative supply news.”
Heat‑pump hiccups & gas reliance
Jess Ralston, the brain behind Cornwall’s Energy & Climate Intelligence Unit, adds a crucial point:
“We’re still asleep on energy efficiency and heat pumps. Because of that, gas usage hasn’t dropped much, even as the global markets throw prices into the stratosphere.” She worries about the recent removal of winter fuel payments—pensioners who relied on it could be caught in a monetary squeeze as bills climb.
What can you do now?
- Check your energy cap for the upcoming year and plan how you’ll weather the increase.
- Look into heat‑pump options if you’re thinking long‑term.
- Keep an eye on any government support for the worst hit by the winter‑fuel cutoff.
When the curtain rises on October’s price changes, expect the auditorium of energy consumers to be on edge. Stay tuned, stay prepared, and keep that humour handy—because there’s nothing worse than a surprise bill in a warming world.
