UK Energy Prices to Jump 10% in October
UK Energy Prices to Jump 10% in October
The Facts
The UK's Office of Gas and Electricity Markets (Ofgem) announced that it has increased its cap on energy prices, and therefore gas and electricity prices will jump 10% beginning in October.The UK's Office of Gas and Electricity Markets (Ofgem) announced that it has increased its cap on energy prices, and therefore, gas and electricity prices will jump 10% beginning in October.
Brits will pay an average £12 ($15) extra per month, bringing the average annual cost up from the current £1,568 ($2,071) to £1,717 ($2,268). Annual prices will reportedly still be £117 ($154) lower than before the October 2023, but roughly £500 ($660) more than before Russia invaded Ukraine.Brits will pay an average £12 ($15) extra per month, bringing the average annual cost up from the current £1,568 ($2,071) to £1,717 ($2,268). Annual prices will reportedly still be £117 ($154) lower than October 2023, but roughly £500 ($660) more than before Russia invaded Ukraine.
The Spin
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