UK electricity prices to hit record highs from October

The Office of Gas and Electricity Markets (Ofgem) has estimated that the cost of electricity in the UK will increase by almost 80% from October 1, reaching a record $4,200, Report informs referring to the website of the regulator.

As a result, the size of the average bill for British households will increase by more than $1,860 per year compared to the current level.

According to experts, the rise in prices will not stop: by April 2023, they can reach $7,700 per year.