Two of the big suppliers have raised their forecasts for the 1 January to 31 March 2027 price cap. E.ON Next moved from £2,088 to £2,130 on 12 October, and British Gas went from £2,080 to £2,185 on 15 October, now the highest current forecast. Both are for a typical dual-fuel household paying by Direct Debit, against the £1,723 cap in force now.
A week ago the suppliers sat within £8 of each other at about +21%. They have now moved apart, and upwards: E.ON Next is 23.6% above October and British Gas 26.8%. Supplier forecasts follow the wholesale market, and Ofgem sets the January cap from average prices over an assessment window that runs to 17 November.
In short
We've moved our central figure up to about £2,150 (+25%), roughly £430 a year, or about £36 a month, more than October for a typical home. Nothing is confirmed until Ofgem announces the cap by 25 November.
The latest forecasts
All figures use Ofgem's current typical household of 2,500 kWh electricity and 9,500 kWh gas a year. EDF's £2,083 is the latest figure we could confirm on its own site. Cornwall Insight's £1,999 was published on 30 September, before October's rise in gas, and now looks low.
British Gas rates its January forecast as low confidence. It also shows April to June 2027 at about £2,190, marked very low confidence, so on its numbers there is no quick return to October's level in the spring.
What it could mean for your bill
A percentage rise in the cap lands on most bills at roughly the same percentage. Here's the extra cost at an annual rate, depending on what you pay now:
For your own usage, the savings calculator applies the January forecast to your bill and puts it next to today's fixed rate.
What it means for fixing
Octopus's current fixes haven't changed since 10 October, but a higher January forecast improves their sums. Averaged across its 14 regions for a typical household:
Against about £2,150, the 12M Fixed (about £1,900) is roughly £250 a year cheaper than the forecast cap. It still costs about £44 more than the cap from October to December, then saves about £62 from January to March, so by the end of March it would be roughly £18 ahead if January lands near the forecast. The 18M Fixed (about £1,792) is around £358 a year below the forecast and would be about £73 ahead by March. If January comes in nearer Cornwall's £1,999, both margins shrink.
One caveat: Octopus lists these fixes as available until 17 October, so they are due to be replaced from then and the new prices may differ. Fix prices follow the forward market, so check the live quote for your postcode before you decide.
If you're not sure yet, switch to Flexible Octopus now. It follows the cap, has no exit fee, gets you the £50 referral credit, and lets you move onto a fix from your account later. Our guide to fixing or staying variable works through the decision in detail.
What happens next
Once the window closes, Ofgem confirms the January cap by 25 November. Cornwall Insight's next forecast should show whether it has caught up with the suppliers. Every forecast goes on our price cap predictions tracker as it lands, and our 12 October report covers why gas has pushed the forecasts up.
Sources: British Gas, E.ON Next, MoneySavingExpert — price cap predictions, Octopus Energy product data and Ofgem. Figures last checked 16 October 2026.
The full explainer on this subject: Energy price cap predictions. More updates on our energy news page.