Electricity bills are poised to persist at twice the historical average. This is Despite anticipated decreases in the upcoming months. This is primarily attributed to Europe maintaining higher-than-expected natural gas reserves.
Regardless of the decline in prices, projections still significantly surpass the historic averages of £50 per MWh. In light of Europe’s reliance on international liquefied natural gas (LNG) post-sanctions on Russian imports cited as a key factor.
Challenge posed by the increase in electricity demand
Anticipated for 2025, prices are projected to decrease below £100 per MWh. Evelin Blom, a modeller at Cornwall Insight, expressed that these reductions bring much-needed positive developments for UK households. She further remarked that despite the welcomed relief, achieving truly affordable energy for Great Britain’s consumers will require concerted efforts. Blom highlighted the challenge posed by the increase in electricity demand. Cautioning that without intervention, elevated power bills could persist until the end of the decade and beyond.
65 percent of Britons are expected to reduce their heating usage
Exclusive data from home energy provider Aira, shared today, reveals that 65 percent of Britons are expected to reduce their heating usage in January, with seven percent choosing to keep it off entirely.
The survey, which involved 8,068 respondents, also discovered that one in four individuals plan to allocate funds from their usual food budget to cover energy bills. Additionally, nearly the same number of respondents (24 percent) intend to use money originally earmarked for leisure activities, while 22 percent plan to draw from their clothing budget.
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