Energy bills are likely to stay high for the foreseeable future, according to the boss of the company that owns British Gas.
Centrica chief executive Chris O'Shea said while he believes the worst of the energy crisis is over, risks remain.
A new price cap comes into effect this weekend which will see households with typical energy usage pay £2,074.
Mr O'Shea said prices have fallen from the rise caused by the Russian war, but are higher than the long-term average.
"I think the first act of the crisis is over," he said. "I think what we've got to remember is the energy prices had more than doubled before Russia invaded Ukraine.
"Now, prices are back down to pre-invasion levels but they're still two and a half times the long run average."
Gas and electricity bills will fall below the £2,500 level that was subsidised by the government under its Energy Price Guarantee scheme.
However, under the new price cap, which is set by the regulator Ofgem, households bills will remain £800 more expensive than two years ago.
Meanwhile, Cornwall Insight, a consultancy firm, estimates that changes in the price cap - which limits what companies can charge per unit of gas and electricity - will take energy bills for a typical consumer to £1,871 per year from October.
That is then forecast to rise to £1,900 from January.
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