Customers of British Gas, OVO, EDF, EON and Octopus will lose money under the new energy price cap. Energy consultancy Cornwall Insight expects the average household’s energy bill to rise from the current £1,568 to £1,714 a year on 1 October.

The £146 hit will be even worse for state pensioners, who are also likely to lose £300 Winter Fuel Payment. However, the expected £1,714 a year would be £120 less than the price cap in October last year, when it was £1,834.

Earlier this week, Craig Lowrey, senior adviser at Cornwall Insight, said the announcement was not the “news that households want to hear as they head into the colder months”. “After two consecutive falls in the cap, I’m sure many were hoping we were on a steady path back to pre-crisis prices,” he said.

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“However, the ongoing impact of the energy crisis has left us with a market that is still very volatile and reacts quickly to bad news about supply.” Jess Ralston, head of the Energy and Climate Intelligence Unit, said bills would be on average about 50 percent higher in winter than before the crisis.

“Due to a lack of progress on energy efficiency and heat pumps, our reliance on gas has not fallen significantly in recent years, although volatility in international markets has pushed up bills,” she said. “With winter benefits being removed for some pensioners and bills rising at the same time, some are likely to struggle and it remains to be seen whether the Government will take action to support those most affected by the removal of winter benefits.”

The new price cap will be announced on Friday and will come into effect on October 1 for customers of British Gas, OVO, EDF, EON Next and Octopus.