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Experts raise April price cap forecast by £21

Cornwall Insight's latest forecast predicts a £21 increase in the April price cap to £1,656 per year for a typical dual fuel household

Cornwall Insight has adjusted its forecast for the April price cap, anticipating a rise of £21 to reach £1,656 annually for a standard dual fuel household.

This modification is attributed to updated data concerning the wholesale cost component, particularly focusing on the Contracts for Difference (CfD) allowance.

The CfD allowance calculations draw from forecasts provided by the Low Carbon Contracts Company, which were revised subsequent to Cornwall Insight’s initial assessment.

Additionally, attention is drawn to pending decisions from Ofgem, notably regarding consultations on equalising cost differences across payment methods and potential adjustments to accommodate a broader Energy Intensive Industries (EII) exemption for low carbon support levies.

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