Households face another rise in energy costs next year, with a forecast by Cornwall Insight suggesting the energy price cap could rise to 1,762 a year for a typical dual fuel consumer. This prediction underscores the significant economic and geopolitical factors at play in wholesale prices, notably the ongoing conflict between Russia and Ukraine, which has deeply affected gas supplies in Europe.
As market turbulence and price cap reforms take effect, analysts warn that factors like the uncertain future surrounding the Russia-Ukraine conflict and potential changes in American gas export policies could lead to continued volatility in energy prices.
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