UK independent energy consultancy Auxilione predicts that the average British household will see their energy bill skyrocket to £6,000 (just over $7,100) in 2023
Analysts estimate the price cap on bills, an official reference point, will reach £6,089 , possibly by April. The cap is currently £1,971 but it is expected to rise to £3,576 in October and £4,799 by January. It was set at £1,400 ($1,653) last October.
Ofgem, the UK energy industry regulator, announced earlier this month it planned to adjust the cap quarterly rather than bi-yearly, due to the increasing volatility in energy costs.
The latest figure is a substantial jump in what was already a dispiriting forecast issued last week, when it was projected by the consultancy that average yearly energy bills would grow to more than £5,000 (nearly $6,100) next year.
Auxilione predicted that bills would peak at over £6,000 in April but then slowly decrease in the second half of next year, eventually declining to £5,160 in October.
A recent poll by research firm Opinium found that 4-% of respondents felt they would not be able to afford the rise in the cap that is about to be announced, without falling behind in other bills.