PNN – Millions of British households have started the New Year with yet another rise in energy prices putting extra pressure on their lives amid a widespread cost-of-living crisis.
According to the report of Pakistan News Network, the British Energy Regulatory Organization (AFJM) announced that from today, January 1st, the energy price ceiling has increased and the average annual cost of energy bills has reached 1,738 pounds. This increase of 21 pounds compared to the previous period occurred while many families were already involved in serious financial problems due to the increase in living costs.
This is not the end of the story. Forecasts indicate that this upward trend will continue in the coming months and it is expected that the energy price ceiling will increase by another 47 pounds in April due to the crisis in global markets and geopolitical tensions. Factors such as the reduction of gas reserves in Europe, the end of the gas transmission contract between Russia and Ukraine, and the reduction of liquefied gas imports to Europe are among the reasons for this instability, which have directly affected the energy bills of households.
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The economic pressure caused by these increases is clearly visible in the daily life of the British people. Reports show that household debt to energy companies has now reached an all-time high of £3.7 billion; A figure that proves the deep crisis of ability to pay bills among people. This situation has put households in front of difficult choices, so that some have had to choose between paying the energy bills and providing the basic needs of life.
The energy price cap is expected to decrease in the summer, but this will not be sustainable and will rise again in the fall, as is the norm every year. Such a trend means that the crisis will continue for a longer period of time, and for many families, there is no clear prospect of easing the financial pressure.
The energy crisis in England has now become one of the most serious economic and social challenges of this country. The continuous increase in energy bills has not only put households under severe pressure, but also sends a clear message to the government and policymakers that tougher times are ahead.
Earlier, Keir Starmer, the Prime Minister of England, acknowledged the deep and chronic economic problems in the country and emphasized that “there is no shortcut to get through this situation” and the government must make difficult decisions. These statements show that the government is also facing a big challenge in facing this crisis and does not have the ability to overcome this situation immediately.