Economy / FinanceEurope

UK nearly doubles energy price amid worsening cost-of-living crisis


Britain has announced a whopping 80-percent hike in electricity and gas bills, bearing testimony to the country’s worsening cost-of-living crisis just before winter sets in and the new prime minister takes office. The UK’s energy bills are set to jump 80 percent to an average of £3,549 ($4,188) per year from October, regulator Ofgem announced on Friday, describing the huge increase as a “crisis” that needed to be tackled through urgent and decisive government action. Emphasizing that the price hike would have a “massive impact” on households across the country, Ofgem CEO Jonathan Brearley warned of yet another likely increase…

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