The government organization that controls the cost of energy in Great Britain recently increased what is known as a price cap.The price cap is the highest amount that gas suppliers can charge for a unit of energy.The new, higher cost has people concerned that they may not be able to pay for their gas and electricity this winter.Some might pay as much as $4,188 for energy next year.Earlier this year, the price cap was at $2,320.Oil and gas prices around the world have been increasing since 2021 as economies started up again after the coronavirus pandemic.More business activities required more fuel.Then, Russia invaded Ukraine in late February, creating a new energy crisis.Russia limited the amount of natural gas it sent to European countries that needed it to power factories, produce electricity and keep homes warm.Some energy companies are charging more because they are worried that Russia might completely stop sending gas to European countries.And in Britain, prices are up because the country does not produce much gas or have a good way to store it.
