Energy Crisis Worry Remains Despite Promises of Price Cap

In the UK there are many households and businesses who are expecting to see a rise in their energy bills coming soon if they haven't seen the increase already. Some say that the recently proposed price cap still isn't enough to help them.

There has been warning for quite some time now that this energy crisis might be worsening and it is an issue that we've been warned has the potential to impact many, causing a lot of stress and anxiety for millions.

Some businesses are already shocked by what they are seeing on their energy bills and it could mean that more small businesses are going to be lost who cannot endure the pain.

The government has promised to get out and help businesses and households deal with the crisis though, by unveiling a new bill on the matter, but that hasn't seemed to help confidence much. At the end of the day the people end up using their own money to subsidize this problem.

Consumer confidence is the lowest it has been in the region since records first began back in the 1970s.

It also looks like now the state is looking to boost its own energy production in various ways too, this is also happening in other parts of the world where political leaders are promoting the same ideas.

They want to see less dependency on energy coming from certain regions internationally and more being produced right at home.

With all the worry around energy bills there are many in the UK who are planning to keep their heating off this winter to avoid paying more. There is also a growing trend of room sharing too because of the growing cost of living.

Many households around the world are already turning to their savings or going into debt just to cover their basic needs each month like rent, hydro, food, and gas.

Now electric heater and electric blanket sales around Europe have recently spiked because of all the worry surrounding that increase in prices. Some retailers of portable electric heaters are seeing sales boom around 300%, for others they've sold many times over what they might have seen last year in sales.

A number of protests and campaigns have been organized on the matter too, and thousands of people have expressed their anger and frustration with the current situation. The cost of living is one of the most important issues for billions of people around the world today and if the standard continues to decline it doesn't take much to ignite some serious political turmoil.

pics: pixabay This is not financial advice. Sources: https://www.irishmirror.ie/news/irish-news/small-irish-coffee-shop-shocked-27863592 https://www.theguardian.com/politics/2022/sep/08/liz-truss-to-freeze-energy-bills-price-at-2500-a-year-funded-by-borrowing https://www.theguardian.com/business/2022/sep/08/truss-energy-bill-freeze-struggling-households https://www.cnbc.com/2022/09/06/uk-energy-bill-boycott-dont-pay-gains-traction-truss-to-offer-relief.html https://www.ft.com/content/61eb4d53-b8fd-4e10-94e1-2b58ee0133a2