Reports: Energy Costs in UK to Increase by Over 50 Percent

Power & Energy

According to the reports, the energy bills in the United Kingdom are all set to be increased after the energy regulator of the United Kingdom has announced the capital on the prices that are going to be increased by more than 50 percent in the month of April 2022.

The United Kingdom is having limits on how much suppliers in the country are able to charge the consumers for the energy along with the price caps that has been reviewed by the government of the United Kingdom in every six months.

Ofgem, regulator of the energy sector of United Kingdom said that, the price cap in which the average annual energy bill of the households in the country has currently been between 1,277 pounds to 1,370 pounds and it will possibly be increased by 54 percent that will marking a large increase in the prices.

This means that, most of the households in the country can possibly see that, their energy bills have been increased by around 700 pounds a year, and Ofgem said that, an estimated 22 million households is going to be seeing the increase in their energy costs in the United Kingdom.

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Jonathan Brearly, chief executive officer of Ofgem said that, the energy market in the United Kingdom has been facing a large challenge because of the unprecedented increase in gas prices across the globe and the company is working for stabilizing the market and more than the longer term for the purpose of diversifying their sources of energy that is going to help in protecting their customers from the same price increase in the future.

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