U.K. Energy Bills Set to Jump as Country Awaits New Leader

U.K. households will see the prices they pay for energy rise by 80% in October, a new blow to spending power that is likely to push the world’s fifth-largest economy into contraction in the final months of the year.

The U.K.’s energy regulator, known as Ofgem, raised its cap Friday on home-energy prices to 3,549 pounds a year (about $4,177) from a current rate of £1,971 following a twice-yearly review. It cited higher natural-gas prices that it attributed to the war in Ukraine and reductions in supplies from Russia.

Continue Reading →

This article was written by and originally published on www.wsj.com