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UK | Electricity

Johnson predicts harsh months for UK due to 'eye-watering' energy bills

| @indiablooms | Aug 28, 2022, at 10:34 pm

London: Outgoing UK Prime Minister Boris Johnson said in an op-ed that a few coming months will be tough for the British due to high energy prices.

"The months ahead are going to be tough, perhaps very tough," Johnson wrote in an article, published by Daily Mail newspaper on Saturday.

"Our energy bills are going to be eye-watering," he said, adding "for many of us, the cost of heating our homes is already frightening."

According to Johnson, the beginning of Russia's special operation in Ukraine significantly affected the energy markets. However, he claims that the UK will emerge from the crisis stronger and more prosperous.

The UK prime minister said, referring to the confrontation with Russia, that "in this brutal arm-wrestle, the Ukrainian people can and will win. And so will Britain."

The outgoing prime minister promised that whoever will be his successor, they will announce new measures of financial support for fellow citizens to tackle surging electricity prices.

On Friday, the UK energy regulator Ofgem announced an 80percent increase in the energy price cap to 3,549 pounds ($4,194) per year starting October 1 due to rising global energy prices.

Since its last revision in April, the energy price cap has stood at 1,971 pounds. In October 2021, the price cap was 1,277 pounds.

Ofgem chief executive Jonathan Brearley warned that energy prices are likely to continue to rise, and called on the country's future prime minister to take new measures to tackle the problem.

(UNI/Sputnik inputs)

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