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UK Wholesale gas price reaches a totally unprecedented record of 508 pence per therm - unthinkable.
20 year chart below - more typically 50p a therm.
UK Wholesale gas price reaches a totally unprecedented record of 508 pence per therm - unthinkable.
20 year chart below - more typically 50p a therm.
For reference - an average price over the reference period of £3.20 would, industry insiders tell me, lead to an average household dual fuel bill of £3,000 per year, £250 a month… that looks possible.
£200 a month looks likely.
£300 a month not impossible.
Staggering sums.
£200 a month looks likely.
£300 a month not impossible.
Staggering sums.
That would be under the cap on unit prices that is now almost certain to be raised again in October. The rise in October on course to be of same order, maybe a little less, but plausibly a lot more, than the record one already causing concern next month.
With Government actively telling rest of Europe to reduce dependence on Russian gas even more, this is going to cause huge pressure either for a massive bailout of consumers, or energy companies, or an about turn on energy policy in time for winter… eg German coal rethink.
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