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  • MORE MISERY FOR AN ALREADY SUFFERING SALFORD AS OFGEM CHIEF WARNS OF UP TO £1000 UK ENERGY CAP RISE IN OCTOBER


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    UK News



    Ofgem Chief Jonathan Brearley, told MPs that the price cap currently at £1,971, is expected to increase dramatically due to what he described as a volatile market. This would mean that the cap could reach £2,800.

    He said the price rises were a "once in a generation event not seen since the oil crisis in the 1970s".

    This will bring little relief to many within Salford who are already struggling to balance eating with heating as the cost of living crisis continues to raise food and fuel prices across the board.

    Data released earlier in the week suggests that many areas in the City are already classed as having high levels of child poverty, with Ordsall the worst to suffer.

    War in the Ukraine is being cited as the main reason for the increase in costs and at the moment it looks like the conflict is set to continue for sometime to come.

    Although the UK only receives 5% of its oil and gas from Russia, demand across the EU on other sources has lead to a supply and demand situation which has saw those prices rise to unprecedented levels.

    Parliament voted against a windfall tax on energy companies last week which could have helped lower household energy bills, arguing that any such tax would damage investor confidence in the industry.




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