I’m so old, I remember a year ago when the experts said inflation would be modest and temporary:
Ofgem said its price cap on the most-widely used tariffs could reach 2,800 pounds ($3,499) when it is next reviewed in October.
That would be up 42% from the current 1,971 pound cap announced in April, which was itself a more than 50% rise on the previous level.
Their proposed solution is “windfall profits tax”. Last year, they instituted “price caps” and one quarter of energy supplies went out of business as a result.