Alex Wickham AT Alexwickham
Exclusive: UK household energy bills are forecast to jump by about 25% in January as the Iran war drives up gas and electricity prices, according to analysis by Bloomberg Economics
The coming price spike means UK inflation could climb above 4% next year, double the BoE target, the analysis finds
The Ofgem energy price cap is expected to rise by about £427 to around £2,150 a year for the average household, according to the forecasts
This would push bills close to the £2,500 cap brought in by the government following Russia’s full-scale invasion of Ukraine in 2022
It’s a major threat to Andy Burnham’s pledge to be the cost-of-living prime minister
Martin Lewis is also sounding the same alarm bells on the Energy Cap. That well known political partisan and economic illiterate Martin Lewis.
Wake up.
We are having the wrong conversations. We should be having conversations about the very most basics and we can not afford to do more even if we are dyed in the wool left wing socialist types.
The economic situation is THAT bad going into winter 2026/2027.
If you aren't worried at this point, frankly you should be.