Families struggling with their energy bills could soon breathe a huge sigh of relief, as the latest predictions show that energy bills in the UK could fall to approximately £2,200 later this year. Households in the UK have been facing the worst impacts of the fossil fuel energy crisis in the past year, triggered by volatile natural gas prices that have been shaken by Russia’s invasion of Ukraine. After Ofgem raised the price cap on energy bills to an eye-watering £2,500 per year last October, the latest predictions show a glimmer of hope for households. Research firm Cornwall Insight’s latest forecasts for the Default Tariff Cap, commonly referred as a price cap, have shown that energy bills will fall twice this year.
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