Energy price cap ‘set to rise in January’ as UK customers dealt another financial blow

Household hopes for energy bills to edge lower in January look set to be dashed as the latest prediction shows a rise at the start of next year.

Energy consultancy Cornwall Insight said it expects Ofgem to reveal on Friday that the typical household’s energy bill will rise by 1%, or £19, to £1,736 from £1,717 on January 1.

Cornwall Insight had previously predicted a 1% fall to £1,697, but said this was now no longer the case, coming as a blow after prices rose by 10% in October.

Millions of pensioners are also facing a winter with less support, after the new Government decided to scrap winter fuel payments for those who do not receive pension credits or other benefits.

About 10 million pensioners will miss out on the payments of up to £300 this year.

Cornwall Insight said: “Given the price cap rise in October, many will have been hoping to see a fall in the cap for January.

“Unfortunately, forecasts show that prices will be staying relatively high for the remainder of winter.”

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