Millions of homes face a winter energy bill hike of over £110 a year due to a surge in commodity market prices to almost 13-year highs, according to industry experts. A standard gas and electricity bill is expected to climb to an average of £1,250 a year this winter after a “massive price hike” as global energy markets soar to prices not seen since 2008. Energy market analysts have said that a gas demand surge in Asia and a long European winter has left reserves on the continent at record low levels, causing market prices for gas and electricity to rally to near 13-year highs in recent days and spelling higher energy bills for UK homes this winter too. Martin Lewis, the founder of price comparison site Money Saving Expert, said that bill payers can expect “huge rises” on their energy bills, of up to £112 a year, from October.
Guardian 23rd June 2021 read more »