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READ MOREUK household energy subsidies could hit zero later this year -Cornwall Insight
A rapid drop in wholesale energy prices following a milder than usual winter means Britain's subsidy scheme to help households with costs could be paying out nothing in the second half of the year, analysts said on Thursday.
If maintained the drop could save the government billions of pounds at a time when it is under pressure to resolve a series of disputes about pay among public sector workers including nurses, ambulance drivers and teachers.
The government has guaranteed to keep average household energy bills below 2,500 pounds ($3,086) a year until the end of April and below 3,000 pounds until March 31, 2024.
Following the wholesale price slump analysts at Cornwall Insight forecast average annual energy bills, under a cap set by regulator Ofgem, will fall to around 2,201 pounds a year in July and reach 2,241 pounds a year in October.
Read more Reuters
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