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Britain nearly doubles domestic energy price cap

UK Budget Predicted To Be A Nightmare Before Christmas
Source: Pixabay

Britain announced Friday a vast 80-percent hike in electricity and gas bills, in a dramatic worsening of the cost-of-living crisis before winter as the UK awaits a new leader.

Regulator Ofgem said its energy price cap, which sets prices for consumers who are not on a fixed deal with their supplier, will in October increase to £3,549 ($4,197) per year from the current £1,971, blaming soaring wholesale costs after Russia’s invasion of Ukraine.

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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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