I break betting odds news as it happens, so you’re never left behind when the market moves or a top offer lands.
- Bookies go 5/6 that the Energy Price Cap reaches £4,000-£5,000 for Q1 2023
- It's 6/5 that the Price Cap is under £4,000 for Q1 next year
- Liz Truss is expected to be the next PM and she has a big task on her hands in terms of the energy crisis
Bookies go 5/6 that the Energy Price Cap is in-between £4,000-£5,000 for Q1 2023
Bookmakers today have made it 5/6 that the Energy Price Cap will be in-between £4,000-£5,000 for Q1 2023.
This comes after the consultancy Cornwall Insight said earlier this week that it expected the energy price cap to reach £4,266 a year for Q1 next year.
Smarkets make it a 54% chance that happens in Q1 but Cornwall Insight were predicting it would be around £3,600 in Q1 last week so there has been a big change.
| Energy Price Cap Q1 2023 | Odds | Probability |
|---|---|---|
| Under £4,000 | 6/5 | 45.5% |
| £4,000-£5,000 | 5/6 | 54.5% |
| Over £5,000 | 6/1 | 14.3% |
Over £5,000 is 6/1 in the betting market with just a 14.3% chance that that will happen in Q1 next year.
It's evident though that we're getting closer to a breaking point when it comes to energy prices in the UK.
It's 6/5 that the Price Cap is under £4,000 for Q1 next year
As we said earlier, Cornwall Insight were predicting the Energy Price Cap would be around £3,600 in Q1 of 2023 just last week.
In the space of a week their predictions have increased by around £600 and may change by even further.
As reported in The Guardian, the price cap was as low as £1,400 as of October last year, but fast forward 12 months later and we are now at almost triple that.
Liz Truss is expected to be the next PM and she has a big task on her hands in terms of the energy crisis
Liz Truss is now as low as 1/11 to be the Next Prime Minister and she has a big task on her hands from the get go.
The energy crisis in the UK has been called “tragic news” by consumer specialist Martin Lewis and he says it needs to be sorted.
Lewis added that this is a "national crisis" on the scale of the coronavirus pandemic due to the amount of money needed.
The next Price Cap announcement is expected later this month.
