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Liverpool Echo
Liverpool Echo
National
Liam Thorp

Energy warning as bills predicted to soar to almost £4,500 a year

Energy bills are predicted to rise even higher this winter than had been previously predicted.

Shock forecasts from energy analysts Cornwall Insight will cause further concern for worried households. Bills are now expected to reach approximately £3,582 per year for the average household from October - up from the £3,359 predicted earlier this month.

From January, the amount is expected to rise to £4,266 before rising again in April to £4,427 - the previous forecast was for £3,729 in April. Cornwall Insight said these changes were due to "a change in calculation methodology" by energy regulator Ofgem.

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A statement from the organisation said: "These new forecasts for the January to March 2023 quarter further underline the need for support for households who will struggle to pay their energy bills this winter."

Reacting to the new predictions today, shadow work and pensions secretary Jonathan Ashworth said: "Utterly devastating. Families and pensioners will be pushed into destitution. Instead of fantasy island Tory leadership unfunded promises we need action. Yet the zombie government has gone awol."

Ofgem recently confirmed it will update its price cap four times a year. Ofgem says the idea of reviewing its price cap more often is so energy companies can provide more accurate pricing for customers. It means millions of households who are on a standard variable tariff will see more frequent changes to their energy bills.

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