After British energy costs went up by 54 percent in April, the energy regulator recently announced that this spike in price will be followed with an 80 percent price increase, blaming the consequences of the Ukraine war for the bulk of the need for the rise in energy costs.
From globalnews.ca
2022-08-26 11:50:58
Excerpt:
….things are getting worse. U.K. residents will see an 80 per cent increase in their annual household energy bills, the country’s energy regulator announced Friday, following a record 54 per cent spike in April. That will bring costs for the average customer from 1,971 pounds (US$2,332) a year to 3,549 pounds.
The latest price cap — the maximum amount that gas suppliers can charge customers per unit of energy — will take effect Oct. 1, just as the cold months set in. And bills are expected to rise again in January to 4,000 pounds.
To blame for the increase is the soaring price of wholesale natural gas triggered by Russia’s war in Ukraine, which is driving up consumer prices and roiling economies across Europe that rely on the fuel for heating homes and generating electricity.
More on British Energy Crisis
UK Pubs Warn Of Mass Closures As Energy Crisis Deepens – NDTV
The pandemic was bad for Britain’s iconic pubs. This could be worse – CNN
