EDF has launched a new service to provide weekly forecasts of the energy price cap.
The service aims to help consumers make informed choices about their energy tariffs by providing updated projections every Tuesday.
EDF’s latest predictions indicate changes in the price cap for upcoming quarters.
The price cap is expected to decrease to £1,568 in third quarter (Q3) 2024, rising to £1,684 in Q4, reach £1,707 in Q1 2025, and then slightly decrease to £1,705 in Q2 2025.
Recent disruptions in Norwegian gas supplies and geopolitical tensions in Gaza have contributed to a 10% increase in winter price projections since February.
Regulator Ofgem is set to unveil the new energy price cap on 24th May.
This announcement could result in a reduction of over £100 in average household bills.
Christopher Dalley, Wholesale Market Services Director at EDF, said: “Energy prices change day by day, not once a quarter, so we are proud to launch this new service which gives customers up-to-date information to help them understand whether a deal is a good or bad one, and see the potential savings they could make by switching tariffs.”
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