Ofgem’s review of Britain’s energy market said that in a “worst case scenario” costs could rise by 60pc by 2016.
The average household spends £804 a year on gas and £443 a year on electricity, a total of £1,247, according to the latest figures from Oftem. A 60pc increase from £1,247 would take the average annual bill to £1,995
Mark Todd, a director of Energyhelpline, the switching service, said: “If Ofgem’s worst case comes true, we are looking at the £2,000 a year energy bill.”
He added: “A rise of 60pc is credible, unfortunately, especially for electricity. A lot of generating plant is about to be replaced with greener technology.” But he said he was more sceptical about gas prices rising by that much as the industry was not about to undergo similar changes.
Mr Todd said Ofgem’s gloomy predictions could take some of the heat off energy companies, which are being pressed to cut prices now in response to large falls this year in wholesale costs. He said: “The prices suppliers are paying are still lower than last year – the only way retail prices should be going in the short term is down,”
In its review of Britain’s energy market, Ofgem listed four possible scenarios for the future. In the worst case — that of a strong resurgence in global economies along with missed renewable and carbon targets — it warned that prices could surge by more than 60pc by 2016 before falling back.
The woke revolution in the classroom is about to go federal.
‘It was insensitive, and I have embarrassed myself and my party by its use,’ O’Connor said.
It’s time for a mass deprogramming.
Why the soft-drink giant is pulling back from its left-wing posturing.
Since when do we need the cops to intervene in the recreational stabbings of our youth?
A look at why droves are leaving the state.
‘The reason people aren’t getting back to work is fear,’ Gina Raimondo claimed.
‘During certain seasonal periods with respiratory-borne diseases, people might elect to wear masks.’
A proposition worth considering: Women have a decided influence over men.
The project is a boon for real-estate developers and a constellation of nonprofits and service providers, but a boondoggle for taxpayers.
How Maduro’s regime is hanging on, two years after an uprising against it — and what Biden should do about it.
A crazed cult of personality or really good acting? Restored footage shows how the Soviet Union reacted to Uncle Joe’s demise in the doc State Funeral.