Energy bills forecast to rise by more than 60 percent – how will this affect you?

Vulnerable people, including the elderly, benefits claimants and some others will get a boosted payment up of more than £1,000.

Dr Craig Lowrey, from Cornwall Insight, said: “As the energy market continues to grapple with global political and economic uncertainty, the corresponding high wholesale prices, and the UK’s continued reliance on energy imports has once again seen predictions for the domestic consumer Default Tariff Cap rise to what are even more unaffordable levels.

“There is always some hope that the market will stabilise and retreat in time for the setting of the January cap.

“However, with the announcement of the October cap only a month away, the high wholesale prices are already being “baked in” to the figure, with little hope of relief from the predicted high energy bills.