UK Energy Prices Leap 80% - Poverty, Death and Bankruptcy Loom
Bills will soar to an average $4,188 a year from October - a rise energy regulator Ofgem calls a “crisis” which needs decisive government intervention - as the UK parliament is paralyzed by the ongoing leadership tussle between Liz Truss and Rishi Sunak.
Regulator CEO Jonathan Brearley also warned that a further rise in January is likely, putting millions across the country in fuel poverty and many small and medium businesses at risk of going to the wall.
Leading forecaster Cornwall Insight predicted energy prices will surpass rent and mortgage costs in 2023 as spiraling cost of living and spiking inflation rock the economy.
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