The UK energy price cap is set to increase by about 13% from July, according to forecasts cited by multiple outlets. The change is linked to movement in wholesale energy costs, which are expected to ease after the July adjustment. Experts at Cornwall Insight forecast that the cap will not face a similarly steep increase in October, suggesting it will remain broadly steady then. The forecasts indicate that after the July rise, the underlying cost pressures driving the regulator’s calculation do not build further at the same pace by early autumn. While the exact level in October depends on subsequent wholesale and other input costs used in the cap formula, the shared assessment across sources is that the October update is unlikely to mirror the magnitude of the July increase. Overall, the reporting points to a temporary spike in the price cap from July, followed by stabilization in October due to anticipated reductions in wholesale prices.
UK energy price cap rises 13% from July, expected to stay stable in October
The UK energy price cap is set to increase by about 13% from July, according to forecasts cited by multiple outlets. The change is linked to movement in wholesale energy costs, which are expected to e...
- The energy price cap increases by about 13% from July.
- Forecasts are attributed to Cornwall Insight.
- Wholesale energy costs are expected to fall after July.
- A steep further increase in October is not expected.
- The price cap is forecast to remain broadly steady in October.
Experts at Cornwall Insight forecast there will not be another steep hike in October as wholesale costs come down.
4 hours agoExperts at Cornwall Insight forecast there will not be another steep hike in October as wholesale costs come down.
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