Martin Lewis outlines rising energy bills for the average UK household
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As dual fuel prices are projected to reach £3,958 this winter, millions of households will 17} Fuel Poverty. The End Fuel Poverty Coalition (EFPC), released earlier this week, estimated that about 10.5 million UK households are running short of fuel and are below the poverty line after payingutility bills.
The ECIU has noted that households rated in Band F under the Energy Performance Certificate (EPC) system will pay £968 more for gas than households in EPC Band C. did.
In the UK, the average household is rated D rank. The ECIU warns that these households will pay an average of £420 more for gas compared to standard Band C.
Wholesale gas prices soared due to Russia's invasion of Ukraine.
The ECIU estimates that these wholesale gas costs add about £2,500 to gas bills.
This includes electricity as some electricity is still generated from gas and high wholesale gas prices are currently having a knock-on effect on the electricity market.
Another reason power prices are rising is that solar and wind power use the cost of gas power as a baseline.
READ MORE: UK signs key £7 billion gas deal with US for major energy upgrade
ECIU lives in lowest rated home compared to EPC Band C when combined gas and electricity bills We found that one would end up paying almost £2,000 more and the average EPC Band D house would end up paying around £600. addition.
ECIU Senior Analyst Jess Ralston said:
"The most vulnerable people, such as the elderly, tend to live in colder homes, and these groups are endangered by government inaction on energy efficiency.
"The ECO insulation scheme is working well, cutting fuel-starved households' bills by £600 a year, but the government has promised no more.
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“Security of supply must also be considered, but UK gas is not going online any time soon. In the meantime, insulation is the best way to protect us from Putin's whims and keep our bills down."
ECO scheme vowed to be scrapped by Prime Minister candidate Liz Truss , it is important to note that the environmental tax on household expenses is paid.
