Energy bills could hit an eye-watering £3,300 on average this winter as the cost of living crisis continues to grip families.
Latest predictions from analysts at Cornwall Insight suggest the price cap could rise to £3,244 from October - up from the £3,003 figure they estimated just two weeks ago.
It is then predicted that the price cap could rise to £3,363 from January.
The price cap, which sets a limit on the rates a supplier can charge for each unit of gas and electricity you use, is currently set at £1,971 and covers 22 million households.
Cornwall Insight said the reason for its higher price cap estimation is down to “uncertainty regarding Russian gas flows into continental Europe” as well as the halted strike by Norwegian gas workers.
This has led to an “increasingly volatile energy market” which has then pushed up wholesale energy prices, it said.
The October price cap rate is due to be announced next month, meaning households are unlikely to see any significant fall in these predictions.
Dr Craig Lowrey, principal consultant at Cornwall Insight, said: "There is always some hope that the market will stabilise and retreat in time for the setting of the January [price] cap.
"However, with the announcement of the October cap only a month away, the high wholesale prices are already being baked in to the figure, with little hope of relief from the predicted high energy bills."
The latest price cap prediction comes after some of the biggest energy firms and charities met with MoneySavingExpert founder Martin Lewis to address concerns around the energy market.
Energy suppliers that attended include, Ovo, British Gas, Octopus, E.ON, EDF and Shell, while the charities that participated were Citizens Advice, National Energy Action and StepChange.
Energy companies did not say they would cut their prices as a result of the meeting - but they did agree to help customers in other ways.
These include being more transparent about why energy bills are going up or down.
Energy firm bosses are also considering publishing all the details of their deals, after it was suggested that households often miss out on cheaper rates because they’re not always advertised.
Many energy firms can offer cheaper deals to existing customers than they do to new ones.
Meanwhile, the first cost of living payments will start to hit accounts next week.
The first half of the £650 - worth £326 - will be given to those who claim Universal Credit, income-related Employment and Support Allowance, income-based Jobseeker’s Allowance, Income Support, and Pension Credit from July 14.
The second payment - worth £324 - will then arrive to these eligible households in the autumn, although no set date has been announced yet.
Those who claim Tax Credits will receive their first payment in autumn, with a second payment to follow in winter.
Every home in England, Scotland and Wales will also receive £400 off their energy bills, spread out over six months from October.
This money is applied to your energy bills and doesn’t need to be paid.
