The decision to increase the per unit price of electricity by more than 80% on the public due to inflation in Great Britain.
According to a British media report, on Friday, the energy regulator Ofgem announced that the price per unit of electricity will be increased from 1,971 pounds to 3,549 pounds annually.
The energy supply company sets the per unit price of electricity in proportion to the price of oil from October to December every year and determines the price of the fuel in the international market and the cost of supplying electricity to consumers.
Jonathan Brierley, CEO of Ofgem, said he expects unit electricity prices to rise in October, making it harder for people to make ends meet. Brierley has attributed the rising energy prices to the Russia-Ukraine war.
Brierley said that it is not up to the regulator and the industry alone to control prices, and the Prime Minister, along with his ministerial team, will need to act quickly and decisively to address this.