Households are expected to pay £500 more in energy bills before the end of the rebate scheme is factored in, energy consultancy Cornwall Insight has forecast.
Ofgem is expected to announce that it will drop its cap on the amount energy suppliers can charge by around £1,000 - but bills could still rise by an average of £500.
According to the latest forecast from energy consultancy Cornwall Insight, the energy regulator is expected to announce a fall in the cap to around £3,295 for a typical household from April. But customers are likely to pay 20% more - around £500 - because the government's additional support only partially protects them from paying the full price cap.Dr Craig Lowrey, principal consultant at Cornwall Insight, said:"Regrettably, the forecast for April looks set to leave the price cap above the increased energy price guarantee level, meaning average annual consumer bills will effectively jump by 20% .
"However, this is before we take into account the end of the £400 energy rebate scheme in March, meaning that the cost of energy for households will increase by even more. "While tumbling cap projections are a positive, unfortunately already-stretched households will be seeing little benefit before July.
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