50% of British families will go into “Energy Poverty”. Soon followed by the Italians
As many as half of British households could be in fuel poverty due to the inexorable rise in energy prices, EDF, the French company that also operates in the United Kingdom, warned.
" If you look at the figures, in January more than half of British households will be in fuel poverty, meaning they will have to spend more than 10% of their disposable income on their energy bills, " said Philippe Commaret , general manager of customers at EDF, to a BBC television program, as reported by Energy Live news. Ofgem, the UK's energy market regulator, will announce the latest energy price cap this week, which will see millions of Britons' electricity bills rise substantially.
The price cap, which aims to protect households from excessively high bills by limiting the price increases that suppliers can pass on to them, is normally adjusted twice a year.
In April this year, the cap was raised by more than 50%, doubling the number of families in trouble over fuel in the UK overnight. But the UK has not yet gotten through the worst of the cost of living crisis, as energy bills are expected to rise by another 42% in October when the energy regulator raises the price cap again. .
Britain's Misery Index is at its worst since John Major's tenure as Prime Minister since 1990. Only then hopes were very different.
But the adjustment appears to be even higher than previously expected, with the latest forecasts seeing bills exceed £ 6,500 annually for millions of households next year, due to rising natural gas prices. This equates to approximately $ 7,600 per year.
The UK imports gas from Europe, which has made it vulnerable to the effects of EU political action despite Brexit.
"The impact has been exacerbated by high electricity prices in Europe, where drought conditions have hit hydroelectric power plants and unplanned outages have reduced French nuclear production," a senior vice president of Moody's told CNBC this week. , commenting on the energy situation in the United Kingdom.
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The article 50% of British families will go into "Energy Poverty". Soon followed by the Italian it comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-50-delle-famiglie-inglesi-andra-in-poverta-energetica-presto-seguito-dalla-italiane/ on Fri, 26 Aug 2022 07:00:39 +0000.