Get your jumpers prepared, the price of vitality is predicted to go increased and better this yr. From the Each day Mirror:
However now vitality consultants at BFY say vitality costs may hit £3,420 in October – then £3,850 when the value cap is reviewed once more in January 2023.
A yr in the past in July 2021 the value cap was simply £1,138 a yr – and most vitality offers had been less expensive than that.
Adam Jones, senior supervisor at BFY Group, informed The Solar : “That is off the again of gasoline and energy costs rising to all time highs.
“The winter 2022 gasoline worth has risen almost 10-fold since this time final yr, and greater than double the value of final winter’s gasoline.
“Official figures have a median earnings of £31,000, this implies greater than half the nation might be pushed into gasoline poverty.”
In the meantime, vitality large Shell posted £10bn quarterly earnings and British Fuel mother or father Centrica has reported adjusted working earnings of $1.34bn for the primary half of this yr, up from £262m in January-June 2021.
Don’t you simply love free market capitalism? Or extra precisely the phantasm of a free market as a small cartel of firms controls our vitality.
Mix this with the opposite value of residing will increase and inflation and you’ve got what economists name a whole and utter sh*tshow.
I assist maintain the great ship Slugger afloat by managing the enterprise and techy stuff.
