Energy Price Increase For UK Households
Households across the UK will have an average increase of £693 for their gas and electricity bills. This is because the regulators have decided on an increase to energy prices.
This is due to the price rise of buying wholesale gas and electricity. This extreme increase in the energy wholesales prices has made a number of energy suppliers go bankrupt recently.
This will see average prices for energy on standard tariff for households between £1, 277 – £1, 971 per year.
For households on a prepayment meter, their prices will be even more expensive. Their average prices will be between £1, 309 – £2, 017 per year. Thus effecting poorer households much more. There are 4.5 Million households in the UK using Prepayment meters.
The price rise will start from April 2022.
The reason for the increased prices is because the Price Cap is being raised. The energy price cap is what energy suppliers in the UK can charge at the maximum. So, regulators have decided on an increase of 54% because of the rise in price of buying wholesale energy for energy companies.
Here are even more increases in the energy prices. It is getting more and more expensive to keep heated in homes.
This is affecting millions of people and will cause even more fuel poverty. The government needs to do much more to support people in fuel poverty.
If you are struggling with paying for your energy, read our article: Help with energy bills (5 Support Available).
If you want to reduce your energy bills, read our article: How To Reduce Your Energy Bills.
If you are having financial difficulties go to Citizens Advice here. Citizens Advice.
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Money Advice Service
For debt management and advice on how to pay for bills go here: Money Advice Service info page.
BBC News. Find article here.