Electricity bill in the United Kingdom will exceed 7,000 euros per year in April

Electricity bill in the United Kingdom will exceed 7,000 euros per year in April

London, Aug 20 – Energy bills in the United Kingdom may reach 6,000 pounds (7,071 euros) per year next April, compared to the average 1,971 pounds (2,322 euros) that each household now pays, as revealed this Saturday by the consulting firm Auxilione.

According to this new report, the crisis on the cost of living will worsen in the next eight months, which adds more pressure for the British Government to take some type of measure to alleviate the increase.

The price of energy -the maximum limit that companies in the sector are authorized to charge each household per year- was in October 2021 at 1,400 pounds (1,649 euros) per year, but last April it rose to 1,971 pounds, while it was expects the price to climb to 3,358 pounds (3,957 euros) this October.

The escalation, Auxilione warned today, will continue in 2023, when it forecasts that the energy bill for homes will reach 4,799 pounds per year next January (5,655 euros) and 6,089 pounds in April (7,177 euros).

This new prediction is calculated from the price of gas reached last Friday, said the consultancy, which estimates that around 45 million people will suffer from energy poverty this winter.

However, the price of invoices could begin to fall slowly from the second half of 2023, which would lead to paying 5,486 pounds per year in July (6,465 euros) and 5,160 in October (6,081 euros), according to Auxilione.

The Bank of England recently raised interest rates from 1.25% to 1.75% in order to control inflation and warned that it may reach 13% before the end of the year, while anticipating that the United Kingdom may enter a recession in the last quarter of 2022 and that this crisis may continue in 2023.

In this sense, the National Statistics Office (ONS) reported this week that the United Kingdom’s consumer price index (CPI) stood at 10.1% in July, compared to 9.4% the previous month, making it the highest level in more than 40 years.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.