Energy prices have been among the largest motorists of inflation given that the commence of the pandemic: in March 2020, the wintertime 2021 energy price tag achieved down to £42/MWh but it just lately broke a new higher of in excess of £70/MWh.
Regulator OFGEM’s price tag cap fell by one% in April 2020 and even even more, by seven%, in Oct 2020, reflecting fundamental marketplace ailments in the course of the pandemic.
On the other hand, it rose by nine% in April 2021 all over again, in accordance to the Office for Nationwide Data (ONS).
It’s not as easy as the price tag cap however when it will come to strength charges, there is a enormous amount of factors at participate in, from desire to geopolitics.
Initial of all, reliance