Britain: Energy Price Cap Could Reach 3,000 Pounds

According to the forecast, the energy price can possibly reach around 3,000 pounds in the Britain at the starting of the month of October 2022 along with the planned increase that is possibly being more than 1,000 pounds.

It is also expected to increase to 2,980.63 pounds for the next period, which has been running between the month of October 2022 and December 2022 after another hike in the wholesale demand prices in the past week.

It is now at 1,971 pounds, which has been the highest since the cap had been introduced in Britain and Northern Ireland is having a separate energy regulator along with defeating the past increase by 54 percent and the previous estimates had also put the price cap at 2,800 pounds in autumn.

Cornwall Insight, a research company said, it could then increase to 3,003 pounds for the period of January to March based on the latest data, and the energy prices have also increased in the past few months after the high demand as the economies have reopened after the lockdowns during the novel corona virus pandemic.

The government of the United Kingdom has also introduced a package of multi-billion-pounds of support, which is including a discount of 400 pounds for every household in the United Kingdom and a rebate of 150 pounds from the council tax bills and the vulnerable people are also entitled for further financial help.