BFY Group predicts a drop in the energy price cap for April, estimating it to be around £1,630.
This figure represents a reduction compared to previous levels.
From 1st January the price for energy for a typical household using gas and electricity and paying by direct debit went up by £94 – this took the price cap from £1,834 to £1,928 per year.
Analysts note that the average amount over the entire 12-month period from April 2024, when considering customer consumption, compared to the latest forecasts for April 2024 to March 2025, will be £1,550.
The forecast by BFY Group suggests unit rates of 22.5p for electricity and 5.5p for gas.
Low consuming customers are projected to pay around £1,150 annually, while high consuming customers may face costs of about £2,200.
The calculation of the 12-month cost of the price cap involves estimating the cap level for each quarter and applying seasonal usage patterns.
Recent trends show a decline in energy prices, with both Summer-24 and Winter-24 prices falling by roughly 40% over the last 90 days.
However, Winter-24 prices stayed 30% higher than Summer-24.
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