00:00Household energy bills could rise sharply in January, with a forecast putting the typical
00:05annual bill at almost £2,000. Cornwall Insight expects the price cap to rise by 16% from
00:13October, an increase of £276. The forecast is linked to higher wholesale gas prices during
00:20the conflict in the Middle East. Ofgem has confirmed a 4% rise from October, taking the
00:26typical annual bill to £1,723. The January figure is not confirmed and could change as
00:34wholesale prices move. Ofgem is due to announce the January cap in November. For households,
00:40the increase could add pressure on budgets over the winter months.
