Chief of Ofgem, Britain’s energy regulator, has blamed Russia-fuelled Ukraine conflict for a huge, 80 per cent hike in electricity and gas bills. This dramatic rise is sure to worsen cost-of-living crisis before winter. Ofgem has said that its energy price cap will increase from October 1 to an average of £3,549 ($4,197) per year from the current £1,971. The energy cap sets prices for consumers who are not on a fixed deal with their supplier.
In an interview to BBC, Jonathan Brearley, the chief executive of Ofgem linked the massive hike to Ukraine conflict.
“It is possible that there may be peace between Russia and Ukraine, that things may change and indeed prices may stabilise or come down, but it is more likely that prices continue to rise,” he said as quoted by the BBC.
It is expected that worse is still to come in the month of January, when Ofgem updates its cap further. The average bills are predicted to top GBP 5,000 or more.
Inflation in the UK is already in double digits. There is a forecast that it would reach 13 per cent in coming months. Energy bills are sure to add to the woes of British public.
The chief executive of Marie Curie cancer care charity, Matthew Reed, said terminally ill people it helps need specialist medical equipment and warned they “could freeze to death this winter without further support”.
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The near-doubling in the energy cap will likely tip millions into fuel poverty, forcing them to choose between heating or eating, anti-poverty experts say.
“Some parents are coming to us in tears, terrified about how they are going to feed their children,” said Rossanna Trudgian, head of campaigns and public affairs at Action for Children charity.
(With inputs from agencies)
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