Household fuel bills in the UK are set to rise by 80% this autumn as the country’s energy regulator urged the Prime Minister to “act urgently” to ease pressure on consumers.
Energy prices in both the UK and continental Europe have spiralled amid a series of pressures on the energy grid, including the war resulting from Russia’s invasion of Ukraine.
The average annual household energy bill is to go up to £3,549 (AED 15,408) from October, with regulator Ofgem saying the costs could rise still further and get “much worse” over the following months.
The UK’s current ruling political party, the Conservatives, are in the process of choosing a new leader following Prime Minister Boris Johnson’s resignation last month, with former Chancellor Rishi Sunak and foreign secretary Liz Truss the final two candidates in the leadership race, which will be decided next month.
"It’s clear the new prime minister will need to act further to tackle the impact of the price rises that are coming in October and next year,” said Jonathan Brearley, the chief executive of Ofgem.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)