Uswitch comments on final October price cap prediction: “Households set to have their hopes dashed... but there is an escape route.”

Uswitch comments on Cornwall Insight’s final October price cap prediction: “Households set to have their hopes dashed... but there is an escape route.”

Richard Neudegg, director of regulation at Uswitch.com, said: “Households holding out for a last-minute reprieve on rising energy bills set to have their hopes dashed, with predictions suggesting a 4% increase in the October price cap.

“With continued instability in the Middle East, higher energy costs are now looking very likely throughout winter as a third consecutive price cap hike is predicted for January.

“Those still on price cap tariffs who don’t take action before October should brace themselves to pay even more for their heating, with standard gas prices likely to be a staggering 26% higher than they were last year.

“But there is an escape route. The best fixed deals on the market right now undercut this prediction by around 12%, with the cheapest priced at £1,522 for a typical home.

“Don’t suffer higher winter bills when you don’t have to – a decent fixed tariff beats these rates and protects you from further price rises. Every week spent on a standard tariff is another week paying higher rates than you need to.”

ENDS