ABOUT US  |  CONTACT US  |  RSS  |  ARCHIVE  |  2024-03-29  |  UPDATED: 1402/11/15 - 18:13:1 FA | AR | PS | EN
Formation of the Federalist Assembly of Afghanistan             Israel launches missile attack on outskirts of Damascus, killing Syrian civilians             UK national scandal: 20,000 mental health patients raped, sexually assaulted in NHS care             Three US troops killed, dozens injured in drone attack in Syria             Trump says NATO will not come to rescue if US attacked             Ukraine beset by $40m fraud in arms procurement amid war with Russia            US approves sale of F-16 jets to Turkey after Ankara ratifies Swedens NATO membership             UNSC to meet to discuss ICJ ruling on Israeli genocide in Gaza             Taliban: Afghanistan Does Not Have Formal Border With Pakistan             Gazas major health facility collapses amid Israeli attacks: MSF             Americans to redeploy nuclear weapons in UK amid fears of WW3             Biden makes history: 1st sitting US president sued for complicity in genocide             Trump walks out of courtroom during closing arguments of Carrolls attorney            US: 3 dead in shooting at Texas apartment complex            US-UK aggression against Yemen risks expansion of war: Iran            


DATE PUBLISHED: 1400/11/14 - 21:47:5
VISIT: 1881
SHARE WITH YOUR FRIENDS

Millions of Britons set to face soaring energy bills from April


Millions of UK households are set to experience a sharp rise of more than 50 percent in their gas and electricity bills in April.

Millions of UK households are set to experience a sharp rise of more than 50 percent in their gas and electricity bills in April, after energy regulator announced a record-breaking increase to its price cap.

Energy regulator Ofgem announced on Thursday that the new cap would rise to 1,971 pounds per year from April, meaning energy bills for the average household will increase by £693.

Ofgem added in its statement that it had no choice but to raise the cap, which covers around 22 million households, following record global gas prices last year.

Adding to the pressure on households, the Bank of England also announced a raise in interest rates, and said inflation would soon reach to more than 7%, leading to one of the biggest cost of living squeezes in recent decades.

Charities and economists estimate that the price rise would have a destructive effect, with low-income families unable to afford the prices and middle-income families forced to cut back on spending elsewhere, in order to provide their energy costs.

According to Charity National Energy Action, around six million households would be classified as in fuel poverty.

Jonathan Brearley, chief executive of Ofgem, says the price hike in the energy market is happening once in a 30-year event.

Meanwhile, the government has announced a council tax rebate to ease the pressure of rising bills on consumers, who also face high inflation and a tax rise. However, the energy sector responded critically to early reports of the plan, with the boss of supplier Ecotricity calling the measures "far too little, far too late".

Craig Lowrey at Cornwall Insight said the British governments plan was not a viable long-term solution.

"Without changes, we predict the winter cap will see payments rise to over 2,000 pounds a year for the average customer. Any tools intended to reduce the immediate impact of these record high prices will mean that they are ultimately borne over a longer period," he said.

Under the hard economic pressures in the UK, more than 25 energy suppliers collapsed during the last year.

Britain is highly dependent on gas imports, to provide proper energy for its residents. It comes, as the Kingdom is against the Nord Stream 2 gas pipeline project, which provides Europe with abundant gas resources.

The Nord Stream 2 gas pipeline is a vast network of offshore natural gas pipelines in Europe, running under the Baltic Sea from Russia to Germany. Earlier in September, the construction of the pipeline was completed but it lays idle, awaiting regulatory approval from Berlin and Brussels.

European governments say the gas link is vital to secure Europes energy supplies, with gas prices surging in the continent.

Benchmark wholesale European gas prices have fallen back from record peaks but are still more than 300 percent higher than this time last year.

 

LINK: https://www.ansarpress.com/english/26676


TAGS:






*
*

*



SEE ALSO

European support for Israel damaging energy security on the continent, report says


US needs to lift sanctions on Irans oil for JCPOA to resume: UN chief


Shipping giants suspend journeys through Red Sea as Saudis voice concern


WFP launches emergency program to assist 600,000 Palestinians


US bans trade with 42 Chinese firms


Sanctions made Russias economy stronger: Putin


Germanys economy headed for recession amid support for Ukraine


Saudi Arabia faces budget deficit after expectations of surplus


Billionaire investor Ray Dalio says Americas growth is at risk of falling to zero


UK recession risk grows with cost-of-living crisis hitting businesses





VIEWED
MOST DISCUSSED




POLL

Modi, Merkel Discuss Afghanistan, Radicalisation And Terrorism

SEE RESULT


LAST NEWS

Federalism in Afghanistan: Opportunities and Challenges

Formation of the Federalist Assembly of Afghanistan

Israel launches missile attack on outskirts of Damascus, killing Syrian civilians

UK national scandal: 20,000 mental health patients raped, sexually assaulted in NHS care

Three US troops killed, dozens injured in drone attack in Syria

Trump says NATO will not come to rescue if US attacked

Ukraine beset by $40m fraud in arms procurement amid war with Russia

US approves sale of F-16 jets to Turkey after Ankara ratifies Swedens NATO membership

UNSC to meet to discuss ICJ ruling on Israeli genocide in Gaza

Taliban: Afghanistan Does Not Have Formal Border With Pakistan

Gazas major health facility collapses amid Israeli attacks: MSF

Americans to redeploy nuclear weapons in UK amid fears of WW3

Biden makes history: 1st sitting US president sued for complicity in genocide

Trump walks out of courtroom during closing arguments of Carrolls attorney

US: 3 dead in shooting at Texas apartment complex

US-UK aggression against Yemen risks expansion of war: Iran

Yemen directly hits US warship with ballistic missile

Hamas has self-reliantly opposed the three giant intelligence agencies of the world!

President Raeisi calls for UN reform, says body unable to end Gaza genocide

Pedram: The Abduction of Hazara and Tajik Women Recalls the Crimes of Abdur Rahman

Special envoys from G7 countries discuss Afghanistan in London meeting

Turkish lawmakers open debate over Swedens NATO membership

UN agency says over half a million Palestinians face catastrophic hunger in Gaza

Palestinian Islamic Jihad: Al-Maghazi operation proved defeat of Israeli regime in Gaza war

European support for Israel damaging energy security on the continent, report says

Pakistan Army Kills Seven Terrorists Near Afghan Border

Israel kills at least 190 people in Khan Younis in 24 hours

UNAMA report: 49 Hazara community members killed in Afghanistan in three months

Indias Modi inaugurates Hindu temple on site of razed mosque ahead of elections

US 2024 election: DeSantis drops out of Republican presidential race, backs Trump

Survivors of Russian charter flight crash transferred to Kabul

Irans anti-terror strikes clear message to certain recipients: Foreign Ministry

Ethnic mass killings in one Sudan city last year left up to 15,000 dead: UN report

Iran says reserves right to avenge Israels assassination of IRGC advisors

Rocket barrage targets Ain al-Asad base housing US forces in western Iraq

Lebanese media: Israeli drone kills 2 Hamas members in southern Lebanon

Five IRGC advisors assassinated in Israeli aggression on Syria

Pakistan recalls ambassador from Tehran

Iraqi PM stresses to NATO chief ending of foreign troops

UN chief reiterates call for immediate ceasefire in Gaza


MEDICAL NEWS


ANSAR PRESS  |  ABOUT US  |  CONTACT US  |  MOBILE VERSION  |  LINKS  |  DESIGN: Negah Network Co.
All right reserved. Use this website by mentioning the source (link) is allowed. Ԑ یی