Half of British households are struggling to cope with rising energy prices

2022-05-28 0 By

Beijing, Feb. 2 (Xinhua) –Almost half of households are having to rob Peter to pay Paul to pay their electricity bills, the Office for National Statistics (ONS) said yesterday.The office for National Statistics said in its energy Prices and Their Impact on Households that wholesale gas prices in January were nearly four times higher than in the same month last year because of a surge in gas prices since last summer.The seven-day average in December was more than eight times higher than a year earlier.People eat at an outdoor dining area in London, Britain, Jan. 19, 2019.The Opinion and Lifestyle Survey conducted by the National Bureau of Statistics in January showed that 66 percent of British adults reported rising living costs, citing rising energy prices as a growing cause of tighter household budgets.Of those who said their cost of living had increased, 79% cited higher gas and electricity prices as a big reason.Of those who reported an increase in living costs, 32% had cut back on electricity and natural gas to control living costs, according to the bureau.53% cut back on other non-essential expenses;26% have dipped into their savings.Low-income households have been hit harder by higher energy prices, the report says.Gas and electricity costs roughly 7 per cent of household income for the poorest 10 per cent of HOUSEHOLDS in the UK, compared with 2 per cent for the richest 10 per cent.Morning rush hour commuters walk on London Bridge in London, England, On January 24.(Xinhua/Tim Ireland) The UK’s energy market regulator, the Gas and Electricity Market Office, will raise the ceiling on energy prices in April due to rising wholesale prices.Analysts widely estimate that this alone will cost British households at least 600 pounds more a year.Emma Pinchbeck, chief executive of the British Energy Association, has warned that domestic energy prices could rise by 45-50 per cent this spring if the government does not intervene.Millions of people could be hit by soaring energy prices for two years, the BBC reported, citing energy executives.(Qiao Ying)