It is the biggest rise in energy bills in over a decade
Energy bills of 15m homes will rise at least 15% from October, as record gas costs mean the price cap will be lifted.
Gas and electricity market regulator OFGEM says that standard tariffs will increase 110 million households by 12% to 139 pounds per year, followed by 4 million, with 13% to 153 pounds. I’ve said that.
As the Furlough scheme ends, the biggest increase in energy bills in the past decade that will allow families across the country to be narrowed down.
Ofgem said the increase “has increased by more than 50% in energy costs over the past six months, and gas prices have reached record highs as the world emerges from lockdown.”
“Because of the recovery in global demand and tougher supply, gas prices have risen to record highs in Europe, which has led to an increase in costs for heating homes and boosting electricity prices,” the regulator said. added.
OFGEM CEO Jonathan Blairey told the BBC that customers should shop for the best possible deal as they have the opportunity to save a lot.
“You don’t need to live at this tariff. The price cap is a backstop. We recommend contacting customers, suppliers who are particularly struggling to pay their bills and accessing a wide range of help and support. “I’ll do that,” he added.
“Millions of household budgets have already been extended to their limits, and this massive increase has never come at a bad time.”
The new rate will take effect on customer October 1st with supplier’s default tariffs.
The domestic energy bills link directly to wholesale prices, prices that energy companies must pay for gas and electricity.
After a surge in energy demand, the global economy recovered from the pandemic, and after a surge in record highs as the global economy recovered from the pandemic.
“The confluence of concurrent factors has led to record gas storage, shutdowns, continuous/long-term production issues, and recent bull run with active Asian purchases.”
