UK Consumers Could Face Annual Energy Bills of Over $4,500 in 2023

© AFP 2023 / SHAUN CURRYA gas burner of a stove is pictured in London, on July 31, 2008. British energy firm Centrica said Thursday that net profit surged 79 percent to 1.802 billion pounds (2.286 billion euros, 3.569 billion dollars) in the first half as it charged more for its gas and electricity to fight soaring wholesale costs."
A gas burner of a stove is pictured in London, on July 31, 2008.  British energy firm Centrica said Thursday that net profit surged 79 percent to 1.802 billion pounds (2.286 billion euros, 3.569 billion dollars) in the first half as it charged more for its gas and electricity to fight soaring wholesale costs. - Sputnik International, 1920, 27.07.2022
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MOSCOW (Sputnik) - British households could receive annual energy bills of over 3,850 pounds ($4,636) in 2023, a threefold increase since the beginning of 2022, The Guardian reported on Wednesday, citing UK energy-based consulting company BFY Group.
According to the report, the UK Office of Gas and Electricity Markets (Ofgem) is expected to set a gas price cap of 3,420 pounds for the average dual-fuel tariff in October and subsequently rise it to 3,850 pounds in January 2023.
That means that British households will be "facing a bill of £500 in January alone" given that gas consumption significantly increases during winter season, the report said. The Guardian added that if BFY Group's forecast is correct, the energy price cap would have increased by more than 2,500 pounds throughout 2022, affecting over 22 million Britons.
The door of 10 Downing Street, the official residence of Britain's Prime Minister, is pictured in central London on July 8, 2022 - Sputnik International, 1920, 16.07.2022
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BFY Group's forecast is realistic, a source at one of the UK's largest energy firms told the newspaper.
Gas prices in Europe have skyrocketed this week, reaching $2,500 per 1,000 cubic meters on Wednesday, after Gazprom announced its plans to reduce supplies via a key gas pipeline from Russia to Europe starting July 27 to no more than 33 million cubic meters per day, 20% of the pipeline's nominal capacity.
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