April Fools’ Day sees the energy price cap rise by a record amount to help keep up with rising wholesale prices – with bills still reflecting the impact of Russia’s war in Ukraine. It was announced in February that customers with default invoices paying by standing order would see an average annual increase of 3 693, from 27 1,277 1. to 97 1,971 £ from 1 April, while prepaid customers are experiencing an increase of 8 708 £ from 30 1,309 £ to £ 2,017. Read more: What is the price ceiling and why will the bills increase so sharply? A think tank specializing in living standards has warned that the shock of the bill will push 2.5 million families in England alone into so-called “fuel stress”, bringing the total number of homes spending at least 10% of their income on energy to five millions. But the pressure from the bills is not limited to energy, as broadband, mobile and water bills, city taxes and national insurance contributions are also rising this month, with the chancellor helping to offset the pain so far. Why is my energy bill growing so much? Energy costs are by far the biggest factor in raising prices throughout the economy, as it is reflected in a range of things, from food to steel prices, to gas stations and, of course, to your household energy bill. While oil costs rose last year as demand returned after the lockdowns due to COVID, a much more toxic cocktail of price pressures forced the cost of gas. They reached unprecedented levels in the fall and were launched again shortly before Christmas. European nations have suffered greatly due to historically low reserves in an era of strong global competition for gas. In the UK, a total of 31 household suppliers have collapsed in the last 15 months – finally paying the price for poor business models that could not handle price shocks. But only part of this shock is now reflected in the energy ceiling. How much should I worry about next winter? They are predicted to get worse in October, when the ceiling will be updated again. According to the latest analysis by Cornwall Insight, an energy research expert, the average bill could increase by £ 500, as it takes into account, for the first time, the latest surge in raw energy prices caused by the invasion. Russia in Ukraine and the subsequent sanctions in Moscow. While it is early, the prospect of such an increase is frightening in the cold winter months, with charities warning that the choice between heating and food for millions will become even stronger. Use the Chrome browser for a more accessible video player 1:10 “People skip meals to pay energy bills” What is the government doing to help? Rishi Sunak had already revealed in February how he would support families with rising energy bills. A 9 9.1 billion package predicts that 80% of households will receive a total of £ 350. It is analyzed with a discount of 150 pounds for real estate in municipal tax areas AD in England. All properties provide a. 200 reduction in energy bills, but only from October, through the Energy Bills Support Plan. However, this money will be recovered, gradually, through accounts at a later date. The discount plan for warm homes is being extended to 2025/26, helping three million households, and funding for energy efficiency measures is estimated to help 450,000 homes cut their κατά 300 bills. Use the Chrome browser for a more accessible video player 3:11 Does the cost-of-living crisis hurt children? Why does the chancellor not go further? Critics have accused him of missing out on a big opportunity during last week’s spring statement, with Labor estimating that families will be in a worse situation of more than 6 2,600 over the next 12 months. But the government’s message was consistent: wages are better for families and public finances as the country’s debt stands at 2, 2.3 trillion. Image: Source: HMT He has pointed to rising national wage and national wage increases that are taking effect today as the culmination of his support, saying the 2.5 million people with the lowest paid people will benefit from the abolition. Business Secretary Kwasi Kwarteng said: “While no government can control global factors that increase the cost of daily commodities, we will definitely do what we can to mitigate the rising costs. “With more employees on the payroll than ever before, this government will continue to stand up for workers.” Follow the Daily Podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker However, the TUC asked Mr Sunak to return to the Commonwealth, as millions of families were at a “tipping point”. The union argued that there was a clear case for an “emergency budget” to raise the minimum wage to at least £ 10 an hour and reduce energy bills through new grants paid by an unexpected tax on the profits of energy and oil companies. The TUC also asked the taxpayer to provide a “real boost to Universal Credit to cover growing accounts”.
