Have you seen a rise in your energy bills?
Energy bills will soar another 50% next year unless the government intervenes, the industry has warned.
"We've had record-breaking gas prices since September, and over the last couple of weeks prices have spiked again," she said. "They are at levels that, frankly, we have not seen before.Wholesale costs hit another record this week of 450p a therm, which experts predict could take average annual bills to about £2,000 next year.
"The price is now so high that this affects the whole of the economy. So does the Treasury need to do more? They have been reluctant to intervene so far in the bits that are within their control," she said. The cost of gas on the wholesale markets - where providers buy what they need - has been rocketing in recent weeks. It has more than doubled since early November.
Many in the industry blame the cap for problems in the sector. More than two dozen energy suppliers have gone bust since the start of September, putting thousands of people out of work and leaving millions of homes in limbo as they wait for a new supplier.was put "special administration", where it is run by OfgemThe cap is set every six months. As gas prices have soared this year, it has forced suppliers to provide energy to households at eye-watering losses.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Energy bills could rise by 50% amid ‘national crisis’ of soaring UK pricesIndustry calls on government to intervene, with situation ‘looking pretty serious for the spring’
Read more »
Dirty Harry at 50: Clint Eastwood’s seminal, troubling 70s antiheroThe off-the-leash cop archetype was cemented with Don Siegel’s taut, provocative thriller that neither condemns or condones extreme measures
Read more »
The 50 Most Anticipated TV Shows of 2022From new series like Pam & Tommy and The Gilded Age to returning series like Bridgerton, Ted Lasso and Atlanta
Read more »
Bouncer, 50, who raped woman suffering panic attack jailedNeil Brown (pictured), 50, of Stratford, London, was today jailed for six years at Cambridge Crown Court. He forcibly removed his victim's clothing and raped her at a restaurant he worked at in August 2018.
Read more »