Cost of living: Bill payers in Greenwich react to soaring prices
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Energy customers are likely to see significant bill increases every three months rather than half-yearly as Ofgem warns they face a “very challenging winter ahead”. The regulator said the change will provide some stability for the market following Russia’s actions in Ukraine leading to ongoing volatility, adding it is “not in anyone’s interests for more suppliers to fail and exit the market”. Speaking to Express.co.uk, Brits have expressed concerns about the rising costs.
One resident said: “I’m really, really quite worried about what’s going to happen in winter.
“How are we going to cope? I wouldn’t say that we’ve got money but it is going to be a struggle for families.
“It is on my mind at the moment and we’re in the middle of summer.”
Carole, 73, added: “Obviously I’m upset by the increase. It’s not a little, it’s going up quite a lot.
“We already get the heating allowance, £200 between us but my husband has got health problems and needs the heating on quite a lot.”
Val, 79, noted: “I think it’s scary that we don’t actually know what that means with our income.
“How many corners can I now cut?
Ann, 81, said: “I’m not happy! I’m more worried about what’s going to happen in winter with the gas and electric because that’s going to take most of our income.
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“My husband’s on pension and so am I and we get roughly just over £1000 a month but that won’t go far. It’s a bit of a worry with food as well.”
Bob, 63, insisted that the Government should do more.
He said: “I think there are systemic problems that need to be addressed. I think we need to look at the whole way in which the energy is managed.
“I really think short-term and long-term measures are needed. Obviously, people are going to struggle to pay their bills.”
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Household energy bills are likely to remain at more than two-and-a-half times their pre-crisis levels until at least 2024, a dire new prediction has warned.
Cornwall Insight, one of the country’s most respected energy consultancies, said bills will hit a staggering £3,359 per year from October for the average household, and not fall below that level until at least the end of next year.
The price cap on energy bills, which regulates what 24 million British households pay, will hit £3,616 from January and rise further to £3,729 from April.
It will begin to fall after that, but only slowly, reaching £3,569 from July before hitting £3,470 for the last three months of 2023.
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