Daily Mail: Rising electricity prices threaten poverty for millions of Britons

Britain’s Daily Mail newspaper has suggested that electricity bills for British households will rise to more than £3,000 a year next January, threatening “millions of people in poverty”.

According to the newspaper daily mailConsulting firm Cornwall Insight predicts that the floor price for gas and electricity set by British energy regulator Ofgem for consumers will rise from the current “record” year of 1971 to £3,245 in October and then to £3,364 in October. beginning of next year.

Experts say such price hikes could “push millions of people into poverty”, so British families will need more help from the state in a “catastrophic” winter, according to the Daily Mail.

It is noteworthy that the company’s latest forecast showed a sharp increase compared to previous estimates. The company’s forecast for June 22 showed an increase in the price threshold to 2981 in October and 3003 in January.

The newspaper pointed out that the new forecasts are “gloomy” and will put additional pressure on families already facing rising prices amid the cost-of-living crisis. Thus, the British are already grappling with rising food and fuel prices, and inflation, having risen to a “colossal” 9.1% in May, is likely to rise to 11% by the end of the year.

In April, British energy regulator Ofgem raised the price threshold for gas and electricity for consumers from £1,277 to £1,171 a year due to a surge in global natural gas prices.

The energy price threshold in the UK is set by the regulator twice a year for summer (April-September) and winter (October-March) periods.

Source: RIA Novosti