Soaring energy prices could cost UK billions – Guardian ...News

Helping British households will be one of the most urgent challenges for the government The UK government may have to spend an additional £23 billion ($27 billion) in subsidies to cover surging energy bills over the upcoming heating season, The Guardian reported on Wednesday, citing a research paper by the Institute for Government (IfG). The institute now forecasts Brits having to fork out £900 more per household this winter than the previous estimate from May. Moreover, as bills are expected to soar further, subsidies are likely to jump to £90 billion ($106 billion) next season, the IfG believes. “Energy prices h

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