FAST FIVE: "A Tragedy:" Brits Face Worsening Cost-Of-Living Crisis As Power Bills Expected To Top $5,000

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A new report via energy market intelligence firm Cornwall Insight Ltd.

“The cost-of-living crisis was already top of the news agenda as more and more people face fuel poverty, this will only compound the concerns,” Lowrey added.

Tragic news The latest @CornwallInsight prediction, based on Ofgem's new methodology, is an 81% price cap rise in Oct (taking typical bill to £3,582/yr) and a further 19% in Jan (so £4,266/yr) Action & planning is needed now.

– Martin Lewis (@MartinSLewis) August 9, 2022 UK's cost-of-living crisis was described by Nigel Wilson, the chief executive of asset management company Legal & General Group Plc, in a CNBC interview on Wednesday morning.

We reported last weekend that “Don't Pay UK,” a strike encouraging people to cancel power bill payments, was gaining moment as the anonymous group hopes to have more than a million Brits boycott paying their power bill by fall.  On top of high inflation and households experiencing the most misery in three decades, the Bank of England warned last week that the UK is expected to enter a recession.

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