UK monthly energy bills could hit £500 in January 2023
New analysis predicts energy bills could hit almost £4,000 a year in January 2023
Britons might need to pay £500 a month for energy bills in January 2023.
A new grim analysis by consultancy BFY Group suggests that gas bills will rise even more than previous estimates pushing almost half of Brits into fuel poverty. The report expects that the price cap in the fourth quarter of the year will be around £3,420, jumping to £3,850 in the first quarter of 2023.
In recent weeks, flows through Nord Stream 1 gas pipeline, were dramatically reduced, prompting European countries to introduce contingency plans and other energy rationing measures. These events combined with the growing energy insecurity have caused further price increases
The winter UK gas contract also closed at all-time highs for a winter product last night. That drove the BFY analysts to increase their forecast for the winter price cap. That means that based on average customer consumption and typical usage patterns the average consumer will be paying over £500 for their energy in January alone.
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