UK nearly doubles domestic energy price cap with 80% hike

Britain announced Friday a vast 80% hike in electricity and gas bills, in a dramatic worsening of the cost-of-living crisis before winter as the UK awaits a new leader.

Regulator Ofgem said its energy price cap, which sets prices for consumers who are not on a fixed deal with their supplier, will in October increase to £3 549 ($4,197 or R70 514) per year from the current £1 971, blaming soaring wholesale costs after Russia's invasion of Ukraine.