British electricity tariff regulator Ofgem has announced that the tariffs that electricity companies will be able to charge consumers from October this year will increase by 80%.
The average household payment was around £2,000 per year, but by the end of the year the average electricity bill had risen to £3,550. Such a large increase in electricity prices in the UK has led to a significant increase in household spending on essential consumer goods, with inflation already above 10%.
The government must submit a draft assistance package for people with reduced purchasing power to parliament.
