Millions Face A Bill Shock As Energy Prices Soar

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Millions Face A Bill Shock As Energy Prices Soar

Millions of individuals will now be affected by an unprecedented £700-per-year increase in energy expenses, which comes on top of a slew of other bill increases.

A typical household using a normal amount of gas and electricity will now pay £1,971 per year due to the 54 percent increase in the energy price cap.

In October, another increase, bringing the annual bill to £2,600, is predicted, according to one analyst.

Some people's council tax, water bills, and auto tax will increase on April 1st.

Minimum wage rates are rising, which, combined with some government assistance, is helping to ease the hit.

A typical energy bill increase of £693 per year will affect 18 million families, with 4.5 million consumers on prepayment meters facing a £708 per year increase.

Prices are rising at their quickest rate in 30 years, but the unexpected rise in energy costs is the most important for individuals. Customers gave meter readings to ensure they paid no more than was absolutely necessary, and a number of suppliers' websites struggled to keep up.

Official forecasters and analysts, on the other hand, have cautioned that when the next cap goes into force in October, citizens should expect another massive increase in energy expenses. The war in Ukraine has impacted wholesale prices, as has continuous supply pressure.

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