Skip to content
Markets
Green

British Apartment Owners Hit by Massive Jump in Energy Bills

  • Apartment tenants with centralized supply face huge bills
  • Integrated heating networks are not covered by Ofgem price cap
The London City Island development.
The London City Island development.Photographer: Chris Ratcliffe/Bloomberg

As British households brace for a 50% hike in energy bills from April, more than half a million consumers have been exposed to the full force of Europe’s energy crisis and face much steeper increases.

Eduardo Picoli, a resident of London City Island -- an affluent neighborhood of the U.K. capital -- was told in December to expect a roughly 380% jump in his apartment’s heating bill. Natalia Rabicka, who also lives in the modern riverside suburb near the Canary Wharf financial district, was warned of a similar increase.