Annual energy bills could be on the brink of surpassing the £2,000 mark once again in the coming year.

That’s according to the latest estimates by the asset management firm Investec, which expects the anticipated energy price cap starting 1st January to propel the average gas and electricity expenditure to £2,083.

This translates to an 8% rise from the current price cap level.

Consultancy Cornwall Insight had previously forecasted that the January price would increase from the October price cap level to around £2,000.

The October price cap, which stands at £1,923, marks the first instance in which it has dipped below the £2,000 threshold since the previous summer.

The precise figure for January’s price cap remains pending and will be determined later this year.