Energy bills in Britain are getting more expensive - Regulator announces price cap increase by 6.4%
Millions of Britons will pay higher energy costs from April after regulator Ofgem said the domestic price cap will rise by 6.4%, due to rising wholesale energy prices.
This is the third consecutive quarterly increase and a blow to the government, which has among its goals the reduction of energy bills. Another influencing factor is the higher-than-expected inflation figure for January.
Ofgem's new cap of £1,849 per year for average electricity and gas usage has increased by £111, or 6.4%, from £1,738 which was under the previous cap.
Standard British gas prices hit a two-year high earlier in February, due to low temperatures and after the deal to supply Russian gas via Ukraine expired at the end of the year.
The British government is working to reduce the country's dependence on expensive fossil fuels and is offering support through the Warm Home Discount initiative, which offers some people £150 off their energy bills each winter.
"Furthermore, the way to deliver energy security and reduce bills forever is to make Britain a clean energy superpower," said official Ministry of Energy sources.
Britain aims to decarbonise its electricity sector by 2030 and cut its use of gas, which currently provides around a third of its energy.
Campaign groups called on the government to offer more support for vulnerable families, such as launching a social tariff or a relief scheme for customers in debt.
Based on current wholesale energy prices, the cap could fall in July to 1,756 pounds per annum, analysts predict, but they warned that volatile markets mean the forecast is likely to change many times before the next cap level is set.
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