British heating costs. Why isn’t it hitting us (yet)?

[Whadda]

I’ve looked for info on this but can’t find a definitive answer.

I know that bills in Ireland have gone up but I think I’ve paying about €30-40 extra a month. I’m seeing horror stories on Mumsnet and Twitter about annual household fuel bills going up to £8k and above.

Does anyone know why this is impacting the UK so heavily? I hear mention of the fuel price cap and know we don’t have it here but does the CER limit costs so much?

I think the UK appears particularly badly hit because of the price cap. It was set too low in recent years resulting in over 30 energy companies going bankrupt last year - rising gas prices but an inability to pass on the cost meant they went under. The cost of covering these bankruptcies plus the need to increase the energy price cap to reflect the true cost means rising prices are affecting more people and getting more attention.

Our prices have always been higher so it may not feel like the increase is so great, but it will hit us. It’s summer now so we won’t see the true impact until the colder weather arrives.