Are you a family man? Who is far more interested in the energy bill set and its rise? If yes, then here in this article we will discuss the UK energy bill set and its relevant aspects. The regulator said the increase in heat and electricity bills from the record increase in natural gas prices will make a lot of people worried.
On Thursday, the government’s energy regulator, Ofgem, announced that they would increase the amount of money paid by many households in the United Kingdom for heat and electricity by 54% in April.
This increase in prices is because of the rise in global natural gas prices, which is expected to worsen the concerns about inflation and the overall amount of money needed to live in the United Kingdom. The regulator said the annual fee would increase from £693 ($940) to £1,971 for customers paying by direct debit from a bank account.
The enormous increase will affect the approximately 22 million consumers currently purchasing energy at price caps set by regulators. Ofgem said that the natural gas prices hit all-time highs in December and remained high, and now they are driving towards an increase again. The regulators estimated the market twice annually and allowed energy providers to convey costs such as increment in gas prices, a primary basis of power, to consumers. Chief Executive Officer Jonathan Brearley said that they are aware that this increase will be upsetting for many peoples, especially for those who are struggling to make a living.