Impacts of rising energy costs
The UK‘s cost of living crisis continues to intensify as today’s rising energy prices will see households experiencing ‘fuel stress’ double from 2.5 to 5 million – with millions more at risk in October if the price cap rises again. Along with rising energy bills including gas, electric, water and broadband, council tax and national insurance contributions will also rise this month.
This happens amid a backdrop of rising global wholesale prices, the highest inflation rate in 40 years, as well as warnings of further impact given the Russia-Ukraine crisis. According to the Resolution Foundation, the most severe impacts will be felt by low-income households, families living in poorly insulated homes, larger families, and older households.
The 54% rise in the energy price cap means that households across the UK will be experiencing anywhere between a £600 to £1000 increase in energy bills. In Islington, this could amount to a £631 increase, with the average gas and electric bill rising from £907 to £1,538 by this summer.
It is deeply troubling that so many families in Islington and England-wide will be bearing the brunt of rising bills, with many facing difficult and impossible choices. As such, looking after each other locally and globally remains as important and urgent as ever.
If you are struggling with your energy bills, there is advice and guidance available on the Islington Council website. You can also contact the Seasonal Health Intervention Network (SHINE) on 0300 555 0195 or 0207 527 2121 for advice, guidance and support.
At Cripplegate Foundation, The Resident Support Scheme (RSS), run in partnership with Islington Council can also offer help to residents during times of crisis. The fund can pay for household items (cookers, fridges, beds, etc), as well as making one-off awards for food and fuel during an immediate crisis. It can also help with short term housing costs, as well as offering some support with council tax payments. Read more about RSS including the application process and eligibility criteria here.
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