https://sputnikglobe.com/20230227/brits-face-rising-household-bills-even-as-watchdog-lowers-price-cap-1107843468.html
Brits Face Rising Household Bills Even as Watchdog Lowers Price Cap
Brits Face Rising Household Bills Even as Watchdog Lowers Price Cap
Sputnik International
Europhile Chancellor of the Exchequer Jeremy Hunt signalled a return to austerity when he was brought back into government in October during Liz Truss' short-lived stint as PM. He now plans a £500 cut to her aid scheme.
2023-02-27T17:24+0000
2023-02-27T17:24+0000
2023-05-28T15:26+0000
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British households could pay more for gas and electricity from April despite the energy watchdog lowering its price cap.Regulator Ofgem announced on Monday that it would lower the maximum a domestic property could be charged annually for for light and heating by £999 from £4,279 to £3,280.That reflects a fall in the market price of fossil fuels, which spiked following sanctions and embargoes on Russian fossil fuel exports over its de-Nazification operation in Ukraine.But energy consultancy firm Cornwall Insight said it expected bills to rise by an average £500 per household.That is thanks Chancellor of the Exchequer Jeremy Hunt's decision to cut the Energy Price Guarantee scheme which meant the average household would pay no more than £2,500 annually, with the shortfall made up by the government. Hunt plans to raise that limit to £3,000.NGO Citizens Advice said the extra costs would be more like £900 a year."Now we know that that's going to be unsustainable for very many people," CEO Dame Clare Moriarty said.Citizens Advice is urging Hunt to scrap the £500 cut in government aid, saying it would abandon around three million people already in energy poverty, spending more than 10 percent of their income on bills.
https://sputnikglobe.com/20230221/struggling-uk-households-spent-800-more-on-gas-in-past-12-months-amid-energy-crisis-study-shows-1107647897.html
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Brits Face Rising Household Bills Even as Watchdog Lowers Price Cap
17:24 GMT 27.02.2023 (Updated: 15:26 GMT 28.05.2023) Europhile Chancellor of the Exchequer Jeremy Hunt signalled a return to austerity when he was brought back into government in October during Liz Truss' short-lived stint as PM. He now plans a £500 cut to her Energy Price Guarantee scheme.
British households could pay more for gas and electricity from April despite the energy watchdog lowering its price cap.
Regulator Ofgem announced on Monday that it would lower the maximum a domestic property could be charged annually for for light and heating by £999 from £4,279 to £3,280.
That reflects a fall in the market price of fossil fuels, which spiked following sanctions and embargoes on Russian fossil fuel exports over its de-Nazification operation in Ukraine.
But energy consultancy firm Cornwall Insight said it expected bills to rise by an average £500 per household.
That is thanks Chancellor of the Exchequer Jeremy Hunt's decision to cut the Energy Price Guarantee scheme which meant the average household would pay no more than £2,500 annually, with the shortfall made up by the government. Hunt plans to raise that limit to £3,000.
NGO Citizens Advice said the extra costs would be more like £900 a year.
"Now we know that that's going to be unsustainable for very many people," CEO Dame Clare Moriarty said.
"We estimate that the number of people who simply won't be able to afford their energy bills will double," Moriarty said. "So we'll go from one in 10 people to one in five people. That is a huge number of people."
21 February 2023, 08:17 GMT
Citizens Advice is urging Hunt to scrap the £500 cut in government aid, saying it would abandon around three million people already in energy poverty, spending more than 10 percent of their income on bills.
"We are talking about literally millions of people who are going to see catastrophic impacts," Moriarty stressed.
