Uswitch comments on Cornwall Insight’s January price cap prediction

‘Hard to bear at the coldest time of year’: Uswitch comments on Cornwall Insight’s January price cap prediction

Richard Neudegg, director of regulation at Uswitch.com, said: “Household energy prices look set to go from worse to even worse this winter.

“This latest prediction would represent the highest rate of increase since the energy crisis and will be extremely hard to bear for many households at the coldest time of year.

“It is too early to call the exact level of the January price cap, given the continued instability in the Middle East, but the direction of travel is very concerning, alongside other cost of living pressures households face.

“Switching energy tariff to a well-priced fixed deal is the biggest lever households on the price cap can pull to bring their costs down right now. The cheapest deal on the market is currently £355 less than this predicted January price cap based on typical use, with some deals also cheaper than October’s rates.

“While getting off the standard variable tariff means you can avoid these big increases to come – with bills already significantly higher than last year – it may not be enough, so keeping a close eye on energy usage will be crucial.

“This winter will be tougher than last, so households should take action now. For those worried or concerned about paying their bills – it’s important not to suffer in silence.”

ENDS