Regulator: Brits will see energy prices jump up to 80% this winter

Aug. 26 (UPI) -- The British regulator said energy bills are expected to explode in the fall, jumping in some instances as high as 80%, putting pressure on customers as a new prime minister takes hold and the Russian war in Ukraine continues.

Britain's energy regulator Ofgem said the typical household would pay $4,200 over the next year for electricity and natural gas from the currently $2,330 currently.

The increase to the British energy cap is expected to take in October, which follows a 54% increase in April.

"This will be devastating for many families," Jonathan Brearley, chief executive of Ofgem, told the BBC. "The difficult news I have to give today is that prices look like they are continuing to rise."

The energy price cap was created to keep customers from being taken advantage of by creating a maximum that households will pay per unit.

British Chancellor Nadhim Zahawi said, according to Sky News, while "help is coming" as far as energy prices, he admitted the new price increases will cause stress and anxiety for many people."

Keith Anderson, the chief executive of ScottishPower, said the government needs to provide some kind of relief for homeowners in the cold-weather months.

"The size and scale of this issue is truly catastrophic for U.K. households and that's why only a big solution can tackle it once and for all to shelter people from the worst this winter," Anderson said, according to Sky News.