How High Will European Gas Prices Go?

In recent weeks, there has been increasing mainstream coverage of the impending energy crisis in the UK and across Europe. While this issue is not news to those who are regularly engaged with energy markets, the looming impact on domestic utility bills is steadily being given more press coverage.  In April 2022, regulator Ofgem increased the UK Energy Price Cap by 54% from £1,277 per year to £1,971 per year, based on typical use. In May, Ofgem stated this would rise again up to £2800 per year in October, however, it is widely…