The energy price cap is now expected to double in January, hitting £3,850 per year, according to experts.
BFY Group, a utilities consultancy, said households could see energy bills of £500 for the month of January alone. The cap is forecast to rise to £3,420 in October - a much higher sum than the £2,800 predicted in May by Ofgem, the energy regulator. Households are already paying £1,971 per year for energy bills after the price cap was increased in April - so this would amount to a 74% increase in the autumn.to just 20% of the Nord Stream 1 pipeline's capacity, which has pushed up wholesale prices.The UK imports less than 5% of its gas from Russia - and has pledged to phase out imports by the end of the year - but is impacted by fluctuations in the global markets.
Disgusting, gross profiteering by the big energy companies,the government needs to nationalise the industry for safety's sake, the exploitation must end now.
These price hikes are simply unsustainable. There will be millions of people who won’t be able to pay these extortionate bills.
The people will have the last laugh, wait and see.
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