"Due to Ukraine Impact, UK Household Annual Energy Bill 6.1 Million Won... Triple Compared to Early This Year"

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jin-young] Due to the impact of the Ukraine war causing gas prices to rise, the annual energy bills for UK households this winter are expected to soar to three times the amount compared to early this year.

According to a report by The Guardian on the 27th (local time), energy research institute BFY predicted that the annual gas and electricity expenditure for UK households will reach an average of ?3,850 (approximately 6,097,600 KRW) by the end of this year. This is three times higher than at the beginning of the year.

The current annual energy bill for UK households is already at a record high of ?1,971 (3,124,800 KRW), but it is expected to jump to ?3,420 (5,422,000 KRW) in October and further rise to ?3,850 by the end of the year.

BFY forecasted that since energy consumption is concentrated in winter, the average household energy cost for January next year alone will reach ?500 (approximately 792,000 KRW).

UK media warned that if the government does not urgently prepare support measures, millions of UK households could face financial difficulties.

As Russia had announced, it reduced gas supply to the UK to about 20% of maximum capacity on the same day. UK gas prices were 400 pence per therm at the end of last year, but after Russia invaded Ukraine in early March this year, prices doubled to 800 pence per therm.

This content was produced with the assistance of AI translation services.