Energy costs are skyrocketing and the British are failing to keep up. Some have launched the “Don’t pay” movement to avoid paying their bill.
UNITED KINGDOM – It’s also heating up across the Channel, and it’s not just about the heat wave, but about soaring energy prices. So much so that unpaid electricity bills in the United Kingdom have tripled over one year to reach 1.3 billion pounds, a record, according to the comparison site Uswitch on Wednesday…
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More worryingly, the trend is unlikely to improve as electricity tariffs are set to undergo further significant increases in the coming months.UK energy price controller Ofgem is expected to declare an expansion in the energy price cap… It is expected to rise from 1,971 pounds per year to 3,358 pounds per year for an average household due to soaring energy prices.
Analysts at specialized firm Cornwall Insight expect further increases in this ceiling in October, January, and April, which could then raise it to 4,427 pounds. “It’s a disturbing circumstance,” says Justina Miltienyte, a Uswitch director. Added to this is inflation that could exceed 13% in October, according to projections from the Bank of England published last week, plunging the United Kingdom into its longest recession since the 2008 financial crisis…
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As the Financial Times explains, the reason for this unsustainable price increase comes from the war… Russia limits gas exports and energy on which British households are very dependent. Faced with inflation, Boris Johnson, who will soon have to leave power after his resignation from the Conservative Party in July, has been clear: “it will be up to the future State head” to deal with it, proclaimed one of his entryway words.
The last two candidates in the race, Liz Truss and Rishi Sunak, each have their own plan. The main need to lessen taxes however without extra use for the most unobtrusive.. The second proposes to abolish VAT on energy bills and is thinking of expanding the emergency plan of 15 million pounds released in May to support this energy crisis and inflation.
Pending the election of September 5, however, the status quo seems to be in order. “A monetary emergency like this requires solid initiative and heinous act, yet rather we host a Moderate get-together that has let completely go,” Work MP Rachel Reeves impacted.
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The “Don’t pay” movement wants to protest against inflation:
“Someone has to be in charge,” former Labor Prime Minister Gordon Brown told ITV. “There is a void that needs to be filled.”Assuming we hang tight for the new Top state leader, it will be passed the point of no return,” he cautioned, approaching Boris Johnson and the two possibilities to succeed him to settle on emergency budgetary measures.
The troublesome month’s end drove the British to send off the “Don’t pay” crusade a little while prior. The 100,000 or so participants are demanding a reduction in energy bills to an “affordable level” or face the “strike” of electricity bill payments from October 1. The goal: to force companies to negotiate.
Finance minister Nadhim Zahawi and energy, industry, and business minister Kwasi Kwarteng are due to hold a crisis meeting on Thursday (11 August) with energy bosses to ask them to track down ways of padding the ascent in energy price covers during this colder time of year…
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The staggering half-year profits of energy giants like Shell, BP, and Centrica, the parent company of British Gas, have recently shocked the United Kingdom, where millions of low-income households are tracking down ways of padding the ascent in energy price covers this colder time of year.
United Kingdom: regulated energy prices will increase by 80%
Regulated energy prices are set to rise by 80% from October in the UK and gas and electricity bills could rise further “significantly” next year amid the crisis in the cost of living… READ MORE
