Energy bills set to fall in January - but households warned of new price hike

Energy bills are anticipated to fall marginally in January - however, experts caution they may then climb once more in spring.

Specialists at Cornwall Insight are forecasting the Ofgem energy price cap will drop from £1,755 annually for the typical household paying by direct debit, to £1,733 - a reduction of £22.

Ofgem will reveal its January price cap this Friday. The anticipated decrease is attributed to a modest decline in wholesale energy costs.

Nevertheless, Cornwall Insight then expects the price cap could increase by approximately £75 annually in April.

Craig Lowrey, principal consultant at Cornwall Insight, said: "January's price cap dip might look like good news but it's only part of the picture.", reports the Mirror .

"Bills are still well above pre-crisis levels and are s