Households could face a significant increase in their energy bills, with the price cap expected to rise by £98 by next winter, according to energy supplier EDF.
The current price cap, which is set by the regulator Ofgem, produces an annual bill of £1,738 based on typical household use.
Looking ahead, EDF has predicted that the April to June cap could climb to around £1,827, with a further increase expected in the latter half of the year.
“We forecast a rise to £1,836 from October to December,” the company said, warning that energy prices remain highly volatile due to fluctuating wholesale prices and the ongoing global energy crisis.
EDF cautioned that there could still be significant instability in wholesale prices in the months to come. Moreover, non-energy costs, including fees for maintaining the transmission and distribution networks, remain uncertain and could further affect bills.
EDF has predicted that the April to June cap could climb to around £1,827 (Image: Getty)
The founder of Moneysavingexpert, Martin Lewis, said while 80% of homes are on the price cap, people can make substantial savings by switching to a cheaper fix rate deak which can offer savings of more than £100 a year.
“Prices are going up and people need to take action now. Get off the pants cap.” he said.
Rich Hughes, Director of Retail at EDF, stated that wholesale gas and electricity prices—comprising around 40% of a household’s energy bill—have surged by 30% since mid-December.
He attributed this rise to factors including global gas supply issues and geopolitical tensions, particularly the ongoing – conflict.
“Many households are already struggling with the rising , and this latest price increase is a worrying trend,” Hughes said. “We are doing everything we can to keep our tariff prices as low as possible, having recently launched a tracker tariff £100 below the cap.”
Hughes also called for long-term solutions to tackle energy affordability, echoing consumer expert Martin Lewis’s calls for a social tariff to support vulnerable customers.
“The ongoing volatility in the energy market underscores the urgent need for a meaningful solution to help those who need it most,” he added.