Energy Bills of UK to Increase After Record Wholesale Electricity

Power & Energy

The bills of energy of the households in the United Kingdom are going to increase after the prices of the wholesale electricity market of United Kingdom have been soared to a record high in the previous month, that has been responsible in furthering the concerns about more families that are being pushed into the fuelling of the poverty.

The electricity market price in the United Kingdom has now passed a megawatt-hour mark of 100 pounds in the past month for the first time since the electricity market was formed in 1990, and the average market price have been reached by 107.50 pounds per megawatt-hour, which has been an increased by 14 percent in the month of July 2021.

Dr. Iain Staffell, a senior lecturer at the Imperial college of UK said, the electricity market in the United Kingdom that has been increased, which is going to be suggesting another increase to the household energy bills in the prices had been sustained.

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In the past month, Ofgem, industry regulator of United Kingdom announced that, it is going to be lifting the maximum capital on the energy deals for the upcoming winter by more than 12 percent, after a rapid increase in the market price for the electricity and gas, and as a result, 11 million households along with the direct debit bills, that are going to be asked for paying an average amount of 1,138 pounds for a energy bill of dual-fuel, which has been an increase of 139 pounds.

Sandy

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