Ofgem has confirmed an 80.06% rise in the energy price cap, sending the average household's yearly bill from £1,971 to £3,549 from October.
The regulator said the increase reflected the continued rise in global wholesale gas prices, which began to surge as the world unlocked from the Covid pandemic, and had been driven still higher to record levels by Russia slowly switching off gas supplies to Europe.Mr Brearley said: "We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make.
"We are working with ministers, consumer groups and industry on a set of options for the incoming Prime Minister that will require urgent action. The response will need to match the scale of the crisis we have before us. With the right support in place and with regulator, Government, industry and consumers working together, we can find a way through this."
"As a result of the decision, parents will be unable to feed their children, the sick and elderly will be condemned to worsening health, disabled people will go without vital medical equipment and households will be forced into poverty for the first time in generations. The consumer watchdog said the Government's financial support for all households must increase from the current £400 to £1,000 - or from £67 to £167 per month from October to March.
Thank your lockdown lovers. This is nothing to do with Putin or Russia. Wake up
So we have gone from a choice between heating or eating to debt or death!!!! EnoughIsEnough dontpayuk
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: Energy price cap will rise to £3,549 in October, Ofgem announcesThe average household's yearly bill will soar amid the worsening cost of living crisis If that's by how much, the energy distribution costs, the business models of our energy companies is broken. The should be declared bankrupt! Anyone fancy a riot at some point? Because the only way now anyone in Westminster will do anything is if we change who is in Westminster. UKLabour will not reverse these caps, they will just allow them to continue whilst real families struggle
Source: MENnewsdesk - 🏆 23. / 69 Read more »
Typical energy bill to rise by 80% in OctoberOfgem's new price cap means a household using a typical amount of energy will pay £3,549 a year. What a surprise. From going to heavily in debt to BritishGas for both gas/electric to a clear account last year am dreading the day when the bill does actually arrives on the door step. A minority braces themselves for record profits and share dividends. The government:
Source: BBCNews - 🏆 3. / 97 Read more »
Energy price cap jumps to £3,549 in rise announced by OfgemBREAKING: Bills are expected to rise by £1,578 a year on average
Source: nottslive - 🏆 96. / 52 Read more »
'Bleakest Christmas' for millions as energy price cap rises to £3,549 in OctoberThe cap will come into effect for around 24 million households in England, Scotland and Wales on default energy tariffs
Source: LiveLancs - 🏆 10. / 87 Read more »
Energy price cap to rise to £3,549 on October 1 in brutal cost of living blowThe energy price cap will rocket by 80% from £1,971 - and it is expected to go even higher throughout the winter. As long as my man Boris keeps going to Kyiv every two months, I'm okay with that. ofgem Conservatives and all the energy companies (who make BILLIONS of pounds in profit every year) are lining each others pockets and royally taking the piss out of the people.
Source: MetroUK - 🏆 13. / 82 Read more »
Energy bills to rocket to £3,549 a year as price cap hike confirmedENERGY bills are set to rocket to £3,549 on average per year, piling further misery onto households. The energy regulator confirmed the new price cap, which comes into effect on October 1, this mor… Ridiculous that people just accept this. If a majority REFUSED to pay, what could the government do? Cut off the whole country, erm I don't think so. Most people are like sheep, they just do what they are told... 🤮 I can't afford to pay it. Simple as that. Do I now hide my belongings so the bailifs can't take them away? This was Great Britain....its now a Broken Britain...sad times!! And you were slamming Corbyn for his plans potentially causing cap to reach £2,000. Don’t see you calling Conservatives out though.
Source: TheSun - 🏆 64. / 61 Read more »