UK residents will face higher electricity prices, with the average bill rising by 10 per cent from October, more than expected, energy regulator Ofgem said.
From October 2024, the cap on electricity tariffs paid by households will increase to £1,717 ($2,253) a year. The price of electricity will increase by 10 per cent from the current annual tariff of £1,568 ($2,058).
As a result of the tariff increase, every household in the United Kingdom will spend an average of £149 ($195.5) more per year on electricity.
‘We know that the price increase will be extremely difficult for many families. Anyone struggling to pay their bills should make sure they have access to all the benefits they are entitled to, especially Pension Credit, and contact their energy company for extra help and support’, Ofgem chief executive Jonathan Brearley said.
Recall, earlier the President of the Russian Federation Vladimir Putin said that Russia is going through a difficult period in Russian history. He emphasised that in the emerging conditions of the new global reality, ‘someone is seeking’ to preserve its fading hegemony through Russia.