Ignore the doomsayers - energy prices could fall next year

Forecasts suggest the energy prices will continue to spiral, but these projections could turn out to be a lot of hot air.

Elderly person turning down heating
About half of the UK's gas is produced domestically.
(Image credit: © Getty)

So-called “experts” have been competing in recent weeks to come up with ever more scary forecasts of energy prices and inflation.

Last week, Ofgem raised the price cap on electricity and gas bills for the average customer on the standard tariff from £1,971 per year (up from £1,277 in April), to £3,549 as of October. Those who had the foresight to lock in low prices earlier this year will be unaffected.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.