Which? responds to the latest Cornwall Insight prediction that the energy price cap will be lower than anticipated in July

Emily Seymour, Which? Energy Editor, said:

“While the latest energy price cap prediction isn’t quite as high as previous forecasts, it’s still a concerning time for households struggling with cost of living pressures, as an increase to energy bills in July is deemed ‘effectively unavoidable’. 

“If you are paying variable rates then this is a sensible time to fix a tariff as there are currently quite a few options available that are cheaper than the July predictions. If you are on a fixed rate already then you won't be affected by the July figures, however you will need to keep an eye on prices when you come to renew. Note that you don’t need to pay exit fees if you are within 49 days of the end of your contract, so you can start shopping for a tariff early.

"When shopping around we recommend looking for tariffs cheaper than the new price cap, no longer than 12 months, and without high exit fees as these could cancel out potential savings should you want to switch early.

“Energy rates are still considerably higher than they were five years ago. If you’re worried about affording your bills, don't suffer in silence. Speak to your energy company – they are obliged to help you if you’re struggling.”