UK energy bills set to jump as country waits for new leader

British households will see the prices they pay for energy rise by 80% in October, another blow to purchasing power that is expected to push the world’s fifth-largest economy into contraction in the final months of the year.

Britain’s energy regulator, known as Ofgem, on Friday raised its cap on household energy prices to 3,549 pounds a year (around $4,177) from a current rate of £1,971 after a six-monthly review. He cited higher natural gas prices which he attributed to the war in Ukraine and cuts in supplies from Russia.


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