RISING COSTS
Bursting through the front door, we are all familiar with the feeling of whacking up the thermostat to full.
Letting out a sigh of relief when a warm hug starts surrounding us.
Only, when a bill hits the doormat, we are not met with the exact same warm feeling.
Energy prices have been on a steep increase since the beginning of 2021, with Brits experiencing rises of around 23% on average, according to Credit Karma, a personal finance company.
At first, lockdown seemed to have caused this problem, but now other economic factors have started to get involved, and the increase has never really stopped.
The recent hike is unavoidable, especially as Ofgem, the energy regulator for Great Britain, announced the energy price cap will rise again by another 65% in October this year.
There will be another energy price cap rise in October
In simple terms, an energy cap is a maximum amount that energy suppliers are permitted to charge per kWh of gas and electricity.
