City Of London
As Energy Costs Soar, Bills for Larger UK Homes Will Hit £10,000
- UK energy bills will soar from October under new price cap
- For some, actual costs will far exceed the headline figure
Large homes with pools to heat will be paying more than double the headline price cap figure.
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A traditional Victorian home in London. A sleek new flat without a gas boiler. An expensive country estate. The UK’s new energy price cap will raise bills for them all, the question is by how much.
All the talk of Friday’s announcement of a new cap is for typical annual bills to jump to about £3,549 ($4,186) starting in October, just when demand rises. But the cap isn’t a maximum level, it’s a charge per unit of energy. So for bigger homes that use a lot more power and gas, costs will far exceed that amount. For example, a mansion’s energy bill could soar to roughly £10,000 a year.