Cornwall Insight forecasts biggest rise in household energy bills in four years

EDF Energy: EDF Energy is one of the UK's largest energy suppliers, delivering gas and electricity to millions of households and businesses across the country. Its chief executive has warned of risks from global energy market volatility and advocated for policy measures to ease pressures on consumers. Adam Scorer: Adam Scorer is the chief executive of National Energy Action, a charity focused on tackling fuel poverty in the UK. He has highlighted the unsustainability of high energy debt levels and called for targeted government support in the upcoming Budget. Craig Lowrey: Craig Lowrey is a principal consultant at Cornwall Insight specializing in energy price forecasting. He has noted that the timing of the predicted January bill increases coincides with peak winter demand and post-holiday financial strain for households. Simone Rossi: Simone Rossi is the chief executive of EDF Energy, a leading UK energy supplier. He has publicly cautioned that the UK faces a potential second energy crisis and urged the government to extend VAT relief on electricity bills while supporting new domestic gas projects. Cornwall Insight: Cornwall Insight is an independent UK energy consultancy providing market analysis, regulatory insights, and price cap forecasts for the gas and electricity sectors. Its latest forecast highlights the impact of international gas supply disruptions on upcoming household bills under Ofgem's price cap. Policy Pressure: Energy suppliers and charities are urging extensions to temporary VAT relief and other targeted measures to support vulnerable households. Winter Preparedness: European gas storage levels are running notably below seasonal averages ahead of the heating season. Geopolitical Supply Risks: Disruptions linked to Middle East conflicts are limiting LNG exports through the Strait of Hormuz, tightening European gas supplies.