Wholesale energy prices have fallen but retail prices are expected to continue to rise in 2023

Real household expenditure on gas and electricity, £ a year

£2,978

Q4 2023

3,000

2,000

1,000

Projection

0

2018

2020

2022

£2,978

Q4 2023

3,000

2,000

1,000

Projection

0

2010

2012

2014

2016

2018

2020

2022

Guardian graphic. Source: RF analysis of BEIS Energy Price indices, Energy Price Guarantee, Ofgem Price Cap methodology. Note: assumes typical domestic consumption of 2,900 kWh electricity and 12,000 kWh gas. 2022 and 2023 figures are inclusive of the Government's £400 bills rebate, spread equally over both years