Energy bills could hit nearly £2,200 a year for thousands of households
Thousands of UK households may see energy bills climb to as high as £2,200 each year as world conflicts continues to drive up gas prices. The surge is predicted by EDF in a new report seen by The Times, which forecasts a 27 per cent rise.
TL;DR
- UK energy bills may rise to £2,200 annually, a 27% increase, due to soaring gas prices.
- Recent conflicts, including US-Iran tensions, have pushed gas prices to a four-year high.
- The current price cap is £1,723, but is forecast to reach £2,192 in January.
- The previous record price was driven by Russia's invasion of Ukraine.
- Ofgem, the energy regulator, updates the price cap every three months.
- Additional support for vulnerable households and tackling energy debt are considered essential.
- A faster shift to electrified economy and homegrown electricity is proposed for long-term resilience.