Britain’s Daily Mail newspaper has suggested that British household electricity bills will rise to more than £3,000 a year next January, threatening “millions of people in poverty”.
And it is reported, citing the expectations of the consulting company Cornwall Insight, that “the minimum price for gas and electricity set by the British Office of Energy Regulatory Ofgham for consumers will increase from the current “record” year 1971 to 3245 pounds sterling. £3,364 in October and then to £3,364 early next year.”
Experts say such price hikes could “push millions of people into poverty”, so British families will need more help from the government in a “catastrophic” winter.
It is noteworthy that the company’s latest forecast showed a sharp increase compared to previous estimates. The company’s June 22 forecast showed an increase in the price cap to 2,981 in October and 3,003 Egyptian pounds in January.
The newspaper said the “new outlook is bleak” and would put additional pressure on families already facing rising prices amid the cost-of-living crisis. Consequently, the British are already grappling with rising food and fuel prices and inflation, after it rose to 9.1%. “Massive” in May, as it is likely to rise to 11% by the end of the year.
And the British energy regulator Ofgem, having forgotten about the price threshold for gas and electricity for consumers, raised from 1277 pounds to 1171 pounds annually due to a sharp increase in world prices for natural gas.
Source: El Iktisad
