Unexpected rise in energy bills from January

Energy bills will rise marginally in January, Ofgem has announced. 

The average annual energy bill will rise by 0.2% in January, despite wholesale costs falling, Ofgem has announced. 

Major forecasters Cornwall Insight had predicted a 1% drop – but the energy regulator has moved in the opposite direction.

Between January and March, the typical annual dual fuel bill will be £1,758 – up from the current £1,755 cap. 

This equates to an average monthly increase of around 28p.

Wholesale energy prices, which make up the largest portion of the cap, have fallen by 4% over the past three months, but remain unpredictable due to events around the world.