Goldman Has Raised European Gas Price Forecast UK energy prices are set to rise more than 50% from current levels, as natural gas supplies continue to face disruption following Russia’s invasion of Ukraine. The UK’s default price cap is set to peak at £3,003 in the first quarter of 2023, according to analysis from Cornwall Insight Ltd ., putting more pressure on households already struggling with a cost of living crisis. “With the geopolitical events in Russia causing significant barriers to energy flows and the situation showing no sign of abating, we are unfortunately predicting average consumers will be facing a bill over 50% more than the existing cap – itself an unprecedented rise,” said Craig Lowrey, principal consultant at Cornwall Insight. “While the UK gets very little energy from Russia, ultimately the countries that do are seeking alternative sources of gas. This will impact the energy flows to […]