Cornwall Insight have released their final October-December 2024 price cap forecast. 

“We are forecasting energy bills will be £1,714 a year for a typical dual fuel consumer.

This would represent a 9% increase compared to the July price cap.

Breakdown: 

Standing Charge (£/day): Elec-0.60, Gas-0.32 

Unit Costs (p/kWh): Elec-24.67, Gas-6.18

A rise in wholesale market prices, particularly since the start of August, has been the key driver behind the forecast uptick in bills. 

Looking further ahead, we currently forecast the cap will show a further modest increase in January 2025.”