The wholesale price of gas in January was around four times the level of the previous year, after experiencing the biggest price explosion since the summer of 2021, according to data published by the UK's Office for National Statistics on Tuesday.
As well as inflation and looming tax rises, soaring energy prices have contributed greatly to the UK's livelihoods crisis. According to statistics, 66 percent of adults in the country say they have experienced an increase in the cost of living.
Fuel costs rose last October after the national regulator, Ofgem, raised the energy price cap by 12 percent, with prices expected to rise again only when the regulator imposes the cap again in April. Although the UK, like most European countries, is not heavily dependent on gas from Russia, the ongoing disputes between Putin and the EU and the possibility of an invasion of Ukraine have affected the overall market price. Some, including the leader of the Brexit party, Nigel Farage, emphasize that
the UK could have resisted such global price fluctuations if it chose to develop its own natural gas extraction industry.
According to the government's own estimates, the natural gas deposits of the Bowland Shale could provide enough energy for 50 years with current use.
Yet Prime Minister Boris Johnson has not tapped into these resources, choosing instead to focus on the supposedly green alternatives of wind and solar power.
- wrote Breitbart.
It seems that sooner or later the island country will also be forced to reduce the population's burdens - even based on the Hungarian model.
Source: 888.hu
Featured image: privatbankar.hu/illustráció
