Today: Saturday, 2 December 2023 year

Electricity prices for households will rise by 178% in the UK

Electricity prices for households will rise by 178% in the UK

The British state regulator of electricity and natural gas markets Ofgem will raise the ceiling price of electricity to a record £3,549 ($4,189) from October 1, which will increase the price of the previous winter season by 178%.

The current marginal cost of electricity from the UK is £1,971 ($2,322). The price increase from October 1 will leave 80%. Compared to the previous winter period, the price will increase three times. Consumers then paid an average of £1,277. Under the new rates, for example, the cost of a dishwasher cycle will exceed £1 ($1.18) compared to £0.4 last winter.

The cost increase will affect 24 million energy consumers. More than half of British households will face energy poverty this winter due to huge bills.

“In October, low-income households simply won’t turn on the heat,” National Energy Action charity policy director Peter Smith told.

The day before, economists at the Resolution Foundation analytical center reported that millions of British families will face serious physical and financial costs if the government does not take effective measures to prevent an “energy catastrophe“.