UK Energy Bills To Stay Elevated Until 2030, Predicts Cornwall Insight

Energy bills will remain high this winter and well above normal levels, despite market watchdog Ofgem confirming a minor reduction in the price cap. The energy price cap has been slashed from £2,074 per year to £1,923 in the latest update from Ofgem, a seven per cent quarter-on-quarter decline. However, this is well above pre-crisis conventions of £1,000-£1,200 per year before rebounding post-pandemic demand saw the collapse of 30 suppliers and record gas prices caused energy bills to climb to all-time highs. Jonathan Brearley,…