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Higher Energy Bills for Nine Million Households in Great Britain as Price Cap Increases

share-iconPublished: Wednesday, January 01 share-iconUpdated: Wednesday, January 01 comment-icon11 months ago
News sources:
THEGUARDIAN
Higher Energy Bills for Nine Million Households in Great Britain as Price Cap Increases

Credited from: THEGUARDIAN

  • From January 1, 2025, nine million households in Great Britain will experience a rise in energy bills due to the energy regulator Ofgem increasing its price cap.
  • The average household energy bill will now be £1,738 per year, marking a 1.2% increase as winter weather brings freezing temperatures.
  • Forecasts indicate bills could reach £1,785 per year by April, approximately £600 more than pre-Ukraine invasion levels.
  • Energy market instability, linked to geopolitical issues, continues to drive these increases while many households suffer from fuel poverty.
  • Campaigners stress the need for long-term insulation solutions to address rising costs and improve housing energy efficiency.

For more information, visit the original article here.

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Energy bills Price cap Great britain Fuel poverty Ofgem Household finances
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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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