Consumer champion Martin Lewis has issued an urgent plea for intervention from the top levels of Government - as millions face energy bills of as much as £500 per month
It would be a near-doubling of today's record price cap which at £1,971 is already hundreds of pounds more than the previous high.
in first half of this year, five times more than in the same period in 2021 when the figure was £262m.And while the UK gets very little of its gas directly from Russia, the price paid here is determined by what happens across the continent. BFY now believes Ofgem will have to set the earlier October price cap change at £3,420, with another increase expected when the cap is reviewed in January.
Although it is still early days for the January prediction, analysts already have most of the data they need to accurately forecast October's rise.
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