Energy execs in the UK, where electricity prices have surged due to the rising cost of natural gas, which tripled in the past year, say a huge number of customers are unable to pay their electric bill and are going into debt. The CEO of Scottish Power Ltd said, “Come October, that’s going to get horrific, truly horrific.”
Fuel poverty. That’s a new term for me, but I can see how it would happen. We are not yet facing that bad a situation in the U.S., but it’s worth considering. It also makes we wonder how electric prices are behaving in France, Germany, Portugal, and the rest of Europe. What would you do if your electric bill was three or four times what you paid last year?
Published 4/20/2022. Read the full article.