Madness of soaring energy costs in the UK

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I know this is not a "trans" issue. It will however affect a great many trans people, as often transitioning can lessen job prospects and wealth.

The energy price cap goes up again by 80% from 1 October for 24 million people in England, Scotland and Wales.

If you’re on a default tariff and pay by direct debit, your bills will increase by £1,578 a year to £3,549. If you’re a prepayment customer, your payments will rise by £1,591 a year to £3,608.

The cap sets the maximum amount that energy suppliers can charge for each unit of energy. The figure reported is for an average home, so you could end up paying more than this, for example, if you have a large home or use more energy than a typical household.

Gas and electric costs have been rocketing over the last 12 months, in part due to the rise in wholesale gas prices. It’s also affected by Russia’s invasion of Ukraine – as the former is a major gas and oil supplier globally, particularly to the EU.

More energy price cap hikes are forecasted, too, with the next one coming in January 2023 – as the update is now every three months, instead of twice per year.

This shows the huge rise in energy costs over the last few years

October 2020: £1,042

April 2021: £1,138

October 2021: £1,277

April 2022: £1,971

October 2022: £3,549.

Now we have headlines like this.

Energy price cap is expected to soar to £6,616 in April 2023 on back of an Ofgem announcement.

That means an average household paying £86 per month in October 2020: will be paying £551 per month in April 2023.
Utter madness.

Of course, everything else has gone up due to this. Petrol going up to nearly £9 per gallon did not help. It is around £6.50 now.

Is it due to the UK selling off all it's state-owned infrastructure? Capitalism driving up fuel prices due to the war? The fact that Europe is heavily reliant on Russia for gas ( The UK gets 3% from Russia, but that does not stop the price from rising) or a bit of everything?

Is this happening anywhere else?

I know there are people from the USA, Canada, and Australia on here. Are you facing these huge increases?

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